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Canadian banks, insurers can raise dividends, buy back shares as regulator lifts moratorium -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A Canadian greenback coin, generally often known as the “Loonie”, is pictured on this illustration image taken in Toronto January 23, 2015. REUTERS/Mark Blinch

TORONTO (Reuters) – Canadian banks and insurers can resume dividend will increase, share buybacks and improve govt compensation, the nation’s monetary regulator stated on Thursday, lifting a moratorium it has imposed on them since March 2020.

The Workplace of Superintendent of Monetary Establishments (OSFI) stated in an announcement these measures have been efficient over the previous yr and a half, however they’re not mandatory nor fit-for-purpose and are being unwound.

OSFI is already carried out with different measures put in place in spring 2020 to help the resilience of economic establishments, the assertion added.

($1 = 1.2425 Canadian {dollars})

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