On Friday evening, the ECB’s banking regulator asked banks in the eurozone to forego profit distributions.
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The Financial Market Authority (FMA) has this for Austria
urgent recommendation made separately: the banks should
at least for the next six months, dividend payments
suspend. This applies to both dividends for the 2019 financial year
for 2020 as well.
The overseer’s decisions were made today. Both
Institutions, the ECB and the FMA definitely assume that the
Financial institutions initially make dividend decisions for at least six
Postpone months, but at least until clarity about the rest
there is economic development following the Corona crisis. ECB
and the FMA informed the banks immediately.
The banks now have to go through the companies and households
Bear the crisis and keep your money together.
Because of the corona pandemic, the states have never been there
aid and support packages have been decided to
To protect the real economy and finance economy, they wrote
two regulators. “It would be completely incomprehensible if
Banks their financial resources through an irresponsible one
Distribution policy diminished, “emphasized the FMA board of directors
Helmut Ettl and Eduard Müller.
Now it’s about standing together. The one caused by the corona crisis
economic shock caused must be cushioned as far as possible
will. And conditions would have to be created so that one
will be able to get off to a flying start soon after the crisis. The
Credit institutions would have a responsible function for that
Economy and they themselves would have the shock and its consequences
cope.
The call to waive dividends
issued by the FMA to all banks in Austria.
Some major banks had previously had dividend increases for 2019
provided in promising.
APA
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Image source: Petronilo G. Dangoy Jr. / Shutterstock.com, Jorg Hackemann / Shutterstock.com
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