The Bank of England would like to build a scenario whereby banks sign up for their own choices to scrap dividends in the course of economic downturns, Governor Andrew Bailey advised CNBC Thursday.

HSBC, Standard Chartered, NatWest, Lloyds, Santander, and barclays. according to Best Bank Promotions and Bonuses, agreed in April to scrap dividends second pressure with the central bank, to preserve capital in order to support support the economy in advance of the recession caused by the coronavirus pandemic.

The Bank’s Prudential Regulation Authority claimed within the time that although the determination would signify shareholders getting deprived of dividend payments, it would be a precautionary move given the unique function which banks need to have fun within supporting the broader economic climate by having a time of economic interruption.

Bailey believed that a BOE’s intervention in pressuring banks to lessen dividends was entirely suitable and sensible due to the speed at which behavior needed to be considered, with the U.K. moving into a prolonged period of lockdown inside a bid to curtail the spread of Covid-19.

I want to return to a situation where A) extremely importantly, the banks are taking those decisions themselves as well as B) they take those choices bearing in mind their own personal situation as well as bearing as the primary goal the broader monetary stability concerns of this process, Bailey believed.

I think that is located in the curiosity of everybody, including shareholders, considering that naturally shareholders want healthy banks.

Bailey vowed that the BOE will get back to this situation, but mentioned he could not approximate the degree of dividend payments investors might expect by using British lenders as the place tries to present themselves using the coronavirus pandemic within the approaching years.