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16 August 2021 Supervision

The current ECB recommendation on dividends expires on 30 September 2021. The ECB today announced it would not extend its recommendation that all banks limit dividends. Following the ECB's lead, we have decided to do the same, also with respect to the less significant credit institutions that we supervise directly.

Following the current recommendation's expiry, supervisors will return to the pre-pandemic way of assessing banks’ capital and dividend plans in the context of the normal supervisory cycle. Banks should remain prudent when deciding on dividends and share buy-backs, carefully considering the sustainability of their business model. They should also not underestimate the risk that additional losses may later have an impact on their capital trajectory as support measures expire.