Brief: NBB Asks To Refrain From Or Limit Dividends During First 9 Months 2021

Nationale Bank Van Belgie NV

18/12/2020 17:17

Dec 18 (Reuters) - BANQUE NATIONALE DE BELGIQUE SA
 BNAB.BR :
    * ASKS BELGIAN CREDIT INSTITUTIONS AND (RE)INSURERS TO
REFRAIN
FROM OR LIMIT DIVIDENDS DURING FIRST NINE MONTHS OF 2021 AND
URGES THEM TO REMAIN CAUTIOUS TOWARDS VARIABLE REMUNERATION
    * RESERVES SHOULD - IF NECESSARY - BE FIRST AND FOREMOST
USED TO
ABSORB LOSSES AND ENSURE CONTINUITY OF FINANCIAL INTERMEDIATION,
AND MORE SPECIFICALLY OF LENDING AND INSURANCE ACTIVITIES IN
FAVOUR OF REAL ECONOMY
    * EUROPEAN SYSTEMIC RISK BOARD (ESRB) ISSUED NEW
RECOMMENDATION
CALLING ON AUTHORITIES TO TAKE NECESSARY ACTION TO ONLY ALLOW
DIVIDEND PAYMENTS IF STRICT CONDITIONS ARE MET FROM 2 JANUARY
2021 UNTIL 30 SEPTEMBER 2021
    * AS MICRO- AND MACROPRUDENTIAL SUPERVISOR, NATIONAL BANK OF
BELGIUM WILL ALSO FOLLOW NEW ESRB RECOMMENDATION
    * FOLLOWING PUBLICATION OF NEW MACROPRUDENTIAL COMMUNICATION
ON 18
DECEMBER, BANK WILL SOON UPDATE ON ITS COMMUNICATION ADDRESSED
TO CREDIT INSTITUTIONS AND ITS CIRCULAR FOR INSURANCE SECTOR

     
 Source text for Eikon:  ID:nNDL3JVLqf 
 Further company coverage:  BNAB.BR  
   


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