LONDON: The Bank of England said it would assess whether a suspension on payouts such as dividends and share buybacks by banks until the end of the year because of the pandemic should be extended.

The BoE said its Prudential Regulation Authority would undertake its assessment of distribution plans beyond the end of 2020, in the fourth quarter.

"The assessment will be based on the current and projected capital positions of the banks and will take into account the level of uncertainty about the future path of the economy, market conditions and capital trajectories prevailing at that time," the BoE said in a statement.