RegAlert2020-05-27
Added · Updated
Recommendation on restriction of distributions during the COVID-19 pandemic
Relevant authorities are recommended to request financial institutions, including banks, insurers, reinsurers, investment firms, and central counterparties, to refrain from making dividend distributions, buying back ordinary shares, or creating obligations to pay variable remuneration to material risk takers until 1 January 2021. These restrictions apply where such actions reduce the quantity or quality of own funds at the EU group, sub-consolidated, or individual level. Authorities may exempt institutions if legally obliged to undertake these actions and must communicate their implementation measures to the European Systemic Risk Board by 31 July 2020.
Get ESRB alerts — same-day email on every new publication.
Skip to main content
EUR-Lex
Access to European Union law
This document is an excerpt from the EUR-Lex website
You are here
EUROPA
EUR-Lex home
EUR-Lex - 32020Y0626(01) - EN
Help
Quick search
Use quotation marks to search for an "exact phrase". Append an asterisk ( * ) to a search term to find variations of it (transp * , 32019R * ). Use a question mark ( ? ) instead of a single character in your search term to find variations of it (ca ? e finds case, cane, care).
Search tips
Need more search options? Use the
Read the rest free, and get an email when ESRB publishes again
Lineage: Amended
Timeline
Amended 1 time · last 2020-12-15
Source: European Systemic Risk Board — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from ESRB
We email you every new ESRB publication the day it's published.