The European Central Bank (ECB) is pushing banks to restrict the amount they pay out to shareholders, it emerged today, and plans to "thoroughly review" their bonus payments later this year.

In its ‘recommendation' on dividends, the ECB argues the "challenging macroeconomic and financial environment" is putting pressure on the capacity of banks to build capital – something they should consider when paying out to their shareholders.

"Banks should base their dividend policies on conservative and