Financial Conduct Authority prepare to meet the heads of several banks today, with discussions over cutting or scrapping bonuses and dividends during the coronavirus crisis
The shock from coronavirus to banks is set to be greater but less prolonged than lenders faced in last year's stress test and the financial system remains resilient, the Bank of England said on Tuesday.
"Major UK banks are well able to withstand severe market and economic disruption," the BoE's Financial Policy Committee said in a statement from meetings it held on March 9 and March 19.
UK digital banks unable to provide state funds27 Mar 2020 09:04
Several of Britain’s digital banks are still waiting to hear if they can offer government-backed loans to struggling small businesses damaged by the coronavirus outbreak, days after a multi-billion pound rescue scheme was launched.
banks should refrain from paying dividends27 Mar 2020 08:42
LONDON (Reuters) - Banks should refrain from paying dividends or launching share buybacks in order to preserve capital and keep lending to an economy hit by the coronavirus pandemic, the European Banking Federation (EBF) said.
“For 2020 the EBF believes that listed banks should not accrue dividends or undertake share buybacks so as to maintain maximum capital preservation and bank boards will be deciding on dividend policy and any distribution amounts at year-end,” the EBF said in a letter on Thursday evening to the European Central Bank’s supervisory arm.
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Lloyds announces new measures to support retail customers26 Mar 2020 09:47
Lloyds Banking Group announces new measures to support retail customers 25 March 2020 We understand how important it is for our customers to receive our support with their finances during these unprecedented and challenging times. That’s why we are introducing even more measures to support our customers.