Bank dividend hikes won't return in lockdown: OSFI

published 11.01.2021 19:08

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TORONTO - The head of Canada’s federal banking regulator won’t consider lifting restrictions that have kept banks and insurers from hiking dividends, offering share buybacks or increasing executive compensation until COVID-19 lockdowns have subsided.

While OSFI debates the future of the restrictions, it is watching what approach other countries are taking, said Rudin, while speaking at the Royal Bank of Canada's Canadian bank CEO conference on Monday.

Bank of Montreal chief executive Darryl White told the RBC conference that he is "sympathetic" to a longer period of restrictions.

Regulators in Europe, for example, forced banks to reduce or suspend dividends, he said.

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