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关上红利的龙头

纽约—欧洲银行高昂的诉讼和重组成本给它们的账表造成了严重损失,也让股价一蹶不振。欧洲银行业和监管者目前正在反思这一窘况、寻找解决之道,它们应该考虑银行的收入(revenue)分配——包括员工奖金和股东红利——也是问题的一部分。

收入分配是欧洲银行资本短缺的一个主要原因。要理解个中原因,可以回顾2014年10月欧洲银行局(European Banking Authority,EBA)对欧元区123家大银行所做的资产负债表压力测试,该测试发现所有银行存在250亿欧元的资本短缺。

当时,EBA要求银行在6—9个月内制定出解决各自资本短缺问题的计划。一些银行采取了行动,通过权益工具发行筹集股本,有时政府也提供了大量帮助。但大部分银行只是降低了高风险资产改善资本比率,以此蒙混过关。

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