Reserve Bank urges banks to halt dividends and bonuses

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The Reserve Bank has urged banks to halt dividend payouts and bonuses to shore up capital and continue lending to businesses and households pummelled by the national lockdown to contain the spread of Covid-19.

The recommendation, which is nonbinding, comes about a week after the central bank said it would allow lenders to dip into their regulatory capital reserves to support efforts to cushion the economic impact of the stay-at-home order on businesses and households...

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