Swiss Bank Watchdog toughens stance on dividence - Financial Post

ZURICH — Switzerland’s bank watchdog on Tuesday toughened its line against banks paying dividends, saying that capital relief to promote lending during the coronavirus crisis would be cut for any new dividend payments approved after March 25.

Regulators around the world have been urging banks to limit shareholder payouts during the coronavirus crisis to conserve capital and boost lending.

Mark Branson, who heads the Swiss regulator FINMA, told reporters last week: “We are asking the boards to decide who needs the money more – Swiss clients or international and institutional investors.” Like to read more…. click here