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U.S. Banks Defend Dividend Payments During Pandemic: FT

America's biggest banks to defend their plans to continue paying dividends in submissions their annual capital plans to the Federal Reserve on Monday, the Financial Times reported on Sunday, citing people familiar with the situation.

The report specified that the Europe's regulators want lenders to drop shareholder payouts while they dealt with the coronavirus pandemic but American counterparts hold firm.

The report stated that US banks' annual capital plans are expected to include proposals to continue paying dividends, reinforcing comments from prominent bank chief executives in recent days.

The bankers, including Goldman Sachs boss David Solomon, Morgan Stanley boss James Gorman and Citigroup chief Mike Corbat, argued that they had the means to continue paying dividends and that cutting them would be "destabilising to investors".

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