BoE removes ‘guardrails’ on bank dividend payments
Central bank eases restrictions as outlook for UK financial sector improves
The Bank of England removed limits on bank dividend payments and share buybacks today (July 13), after policy-makers judged the economic recovery was sufficiently robust.
The Prudential Regulation Authority said it had decided to remove “guardrails” on banks’ dividend payments, which had been imposed as a means of ensuring banks retained sufficient capital during the Covid-19 shock.
In December 2020, the PRA kept the rules in place but said it was “content” for “appropriately prudent” 2021
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