The situation around the economy and the unpredictability of the coronavirus has caused the ECB to recommend that banks do not pay dividends.

MarketWatch reports that Andrea Enria, chair of the supervisory board of the ECB, said the decision came alongside an assessment of the potential vulnerabilities of the euro area banking sector in the wake of the coronavirus pandemic.

The European Central Bank extended a request that banks hold off on returning capital to shareholders and show moderation in setting bonuses amid the coronavirus outbreak, dealing a blow to some lenders who had lobbied to resume business as usual. Nicholas Comfort reports on “Bloomberg Surveillance.”


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