As predictable as it is appalling. The great moral hazard reaming:
Decisions on dividends are up to boards “for the time being”, APRA says in an emailed statement.
…APRA says it’s “engaging with banks to understand their approach to dividends, as well as other distributions to shareholders or employees, given current uncertainties.”
“Banks are well-capitalised, however APRA has advised banks that it expects them to be prudently managing their capital, and ensure their actions in the foreseeable future are consistent with their ability to provide ongoing credit support to the broader economy.
“APRA continues to monitor these issues and may review its guidance on these issues as circumstances evolve.”
Always monitoring never doing.
