European Central Bank extends bank ban on dividends and stock buybacks

The European Central Bank on Tuesday extended a ban on banks paying dividends and buying back their own stock.

The ECB said the prohibition has been extended from October to the end of the year.

Andrea Enria, chair of the supervisory board of the ECB, said the decision came alongside an assessment of the potential vulnerabilities of the euro area banking sector in the wake of the coronavirus.

Steve Goldstein

source:marketwatch.com