MNI BRIEF:Canada Has No Timeframe For Ending Bank Dividend Cap

Canada's top bank regulator said there's no set timetable for ending a ban on increases to dividends, share buybacks and higher total executive pay, and that it's safer to delay that move until the risks from the pandemic have subsided.

The economy still faces "severe but plausible scenarios" such as a W-shaped recovery, OSFI chief Jeremy Rudin said in a speech posted on the agency's website Tuesday.

"The good news, and it's very good news, is that there is plenty of capital for the banking system to be able to continue its shock absorber role," Rudin said. Another downturn would also push back when the agency could look at moving up its capital stability buffer, he said.