TORONTO (Reuters) – Canadian banks and insurers can resume dividend increases, share buybacks and increase executive compensation, the country’s financial regulator said on Thursday, lifting a moratorium it has imposed on them since March 2020.
The Office of Superintendent of Financial Institutions (OSFI) said in a statement these measures were effective over the past year and a half, but they are no longer necessary nor fit-for-purpose and are being unwound.
OSFI is already done with other measures put in place in spring 2020 to support the resilience of financial institutions, the statement added.
($1 = 1.2425 Canadian dollars)
(Reporting By Nichola Saminather; Editing by Chris Reese)
