ECB’s recommendation on banks’ dividend distribution policies has been published in the OJEU. It recommends that credit institutions with obligations under the fourth Capital Requirements Directive and Regulation package (CRD4) and the Single Supervisory Mechanism should establish dividend policies using conservative and prudent assumptions so they satisfy their capital requirements after any distribution. The recommended dividend distributions depend on whether the institution has reached its fully loaded ratios and whether it did so by 31 December 2015. (Source: ECB Recommendation on Dividends in OJEU)