SWE FI Banks Should Stop Dividends
On Mar. 24, SWE FI issued expectations of banks and credit firms.
- SWE FI stated it expects banks and credit market companies to stop dividends.
- Outlook for Swedish economy deteriorating rapidly, important to safeguard a stable supply of credit to households and companies and maintain good resilience in system.
- Under current circumstances, FI expects these companies to refrain from distributing funds to shareholders until the great uncertainty about economic situation has cleared.
- FI sent letters to all banks and credit market companies under FI's supervision.
- The letter sent with the request that the boards change their dividend proposals immediately and that the spring general meetings decide not to pay dividends.
- Important banks act responsibly, strengthen their resilience in this critical situation.
||Bank; CU; IA; MSB
||PR, 3/24/2020; COVID-19
||Compliance; Financial; Legal; Treasury
||Banking; Equity; Loan; Securities
|Reg. Last Update
Last substantive update on 03/25/2020