France Could Restrict Banks Right to Pay Dividends, Figaro Says
France could restrict the right of banks to pay dividends to make sure they keep lending, daily Le Figaro reported, citing an unidentified person close to the country’s finance minister Francois Baroin.
The newspaper cited a person described as a financial specialist as saying that French banks wouldn’t be in their current situation had they not paid out so much in dividends over the last three years.
The French governement isn’t deaf to market demands for bank refinancing, the newspaper cited an unnamed person in the finance ministry as saying. The ministry believes that French banks are solid and that they don’t have problems of liquidity or solvency, Le Figaro added.
To contact the editor responsible for this story: David Whitehouse at dwhitehouse1@bloomberg.net
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