The European Central Bank (ECB) appealed to the European banks to hold off on dividends and not to buy back shares until January 2021, Reuters reported on Tuesday. Key points “ECB extends recommendation not to pay dividends until January 2021 and clarifies timeline to restore buffers.” “ECB asks banks not to pay dividends and not to buy back shares until January 2021.” “Expects banks to exercise extreme moderation on variable remuneration to conserve capital in crisis.” “Banks to be extremely moderate with regard to variable remuneration.” “It clarified that it will give enough time for banks to replenish capital and liquidity buffers in order not to act pro-cyclically.” “ECB will review whether stance remains necessary in Q4, taking into account economic environment, financial system and capital planning.” “Continues to encourage banks to use their capital and liquidity buffers for lending purposes and loss absorption.” “It will not require banks to start replenishing their capital buffers before the peak in capital depletion is reached.” “Exact timeline will be decided following the 2021 EU-wide stress test.” EUR/USD recedes from tops above 1.1770 as pre-Fed dollar sell-off stalls FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold: Bulls need to contain pullback above $1946 FX Street 3 years The European Central Bank (ECB) appealed to the European banks to hold off on dividends and not to buy back shares until January 2021, Reuters reported on Tuesday. Key points “ECB extends recommendation not to pay dividends until January 2021 and clarifies timeline to restore buffers.” “ECB asks banks not to pay dividends and not to buy back shares until January 2021.” “Expects banks to exercise extreme moderation on variable remuneration to conserve capital in crisis.” “Banks to be extremely moderate with regard to variable remuneration.” “It clarified that it will give enough time for banks to replenish capital and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
