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

4 weeks ago 21

TORONTO, Nov 4 (Reuters) - Canadian banks and insurers tin resume dividend increases, stock buybacks and summation enforcement compensation, the country's fiscal regulator said connected Thursday, lifting a moratorium it has imposed connected them since March 2020.

The Office of Superintendent of Financial Institutions (OSFI) said successful a connection these measures were effectual implicit the past twelvemonth and a half, but they are nary longer indispensable nor fit-for-purpose and are being unwound.

OSFI is already done with different measures enactment successful spot successful outpouring 2020 to enactment the resilience of fiscal institutions, the connection added.

($1 = 1.2425 Canadian dollars)

Reporting By Nichola Saminather Editing by Chris Reese

Our Standards: The Thomson Reuters Trust Principles.

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