ECB asks eurozone banks to stop dividends

Euro symbol, Willy Brandt Platz, Frankfurt

The European Central Bank has urged eurozone banks stop distributing dividends at least until October 1.

In a similar vein, on March 29 the Bank of Israel instructed banks to re-examine their distribution of dividends. These decisions followed analogous steps taken by institutions in other jurisdictions, including Swedish financial regulator Finansinspektionen, and the Bank of England.

In a statement on March 27, the ECB recommended a freeze on dividends in a bid “to boost banks’ capacity to

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