BoE Ends COVID Dividend Rules For Clearing, Settlement Cos
By Najiyya Budaly (November 11, 2021, 11:38 AM GMT) -- The Bank of England said on Thursday that institutions that clear and settle financial transactions will no longer have to discuss their plans to make dividend payouts to shareholders, ending a COVID-era measure.
Jon Cunliffe, deputy governor of financial stability at the central bank, told so-called financial market infrastructures that they are no longer required to discuss dividend payments with the central bank before doing so. The institutions — which include central counterparties and central securities depositories — perform a critical function in the U.K. market by settling, clearing and recording transactions.
The central bank told financial market infrastructures in June 2020 to...
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