March 24, 2020 / 2:24 PM / 4 days ago

UPDATE 1-German finance watchdog tells banks no buybacks, caution with dividends and bonuses

(Updates details, background)

FRANKFURT, March 24 (Reuters) - Germany's financial watchdog on Tuesday urged banks to refrain from share buybacks and to think twice before paying dividends and bonuses.

Regulators have recently enacted measures to make it easier for banks to lend and absorb losses as they deal with the fallout from the coronavirus outbreak.

"We advise financial institutions to handle existing capital resources very carefully," Bafin President Felix Hufeld said in a statement.

The advice follows similar calls from officials elsewhere in Europe, including those in Sweden and France.

Reporting by Tom Sims Editing by Michelle Martin

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