Swiss watchdog FINMA: banks' capital relief to be reduced if dividends paid

Swiss financial regulator FINMA on Tuesday laid out guidelines for easing banks' capital and liquidity requirements in relation to COVID-19 credits, noting capital relief would be reduced for any new dividend payments made by banks.

"For banks whose shareholders approved after 25 March 2020 dividends or other similar distributions relating to 2019, or who plan to seek such shareholder approval, the capital relief will be reduced by the amount of the said distributions," FINMA said in a statement.