APRA pushes banks to suspend dividends

The powerful banking regulator has urged banks and insurance companies to "seriously consider" suspending their decisions on dividend payments until there is more certainty about the economic toll inflicted by coronavirus.

Mr Byres said authorised deposit-taking institutions needed to make judgments about their capital that were forward-looking, and "in the current environment of significant uncertainty in the outlook, this can be very challenging".

Mr Byres said banks had a "critical" role in supporting the economy during the crisis, and APRA had temporarily relaxed some capital requirements "with this support very much in mind". "APRA also expects that boards will appropriately limit executive cash bonuses, mindful of the current challenging environment," Mr Byres added.

clancyyeates Reason for the poor ASX performance today

clancyyeates But but but, our bank's are even able to make record profits during a depression. Money money money for everyone, risk has been eliminated, rewards for every over leveraged backyard finance pyjama trader.

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