ECB could Lift Bank Dividend Cap, De Guindos says

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MADRID, June 23 Reuters The European Central Bank could lift a restriction on bank dividend payments soon thanks to solid economic recovery in the euro zone, ECBs Vicepresident Luis de Guindos said on Wednesday.

If the pace of activity we are forecasting continues, clearly this recommendation will sooner or later disappear, De Guindos told a financial event held in Spain.

The ECB expects to made a decision on whether to lift restrictions on bank dividends and share buybacks on July 23.

The ECB has asked banks to limit dividends and buybacks until the end of September but has already indicated that the restrictions would be lifted unless the economic outlook deteriorates.

Reporting by Jesús Aguado and Emma Pinedo; editing by Inti Landauro

Source Reuters

 

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