When will the banks declare dividend cut?

Question

it seems like all financial stocks are in a melt down i would like to know when are banks going to tell the public about dividend cut.. thanks.

Answer 1

Many already have. Read the news.

Answer 2

They will hold off as long as possible because it really hurts the stock.  There are jurisdictions (like New York state) that make it illegal for fiduciaries (like pension funds) to own stock in a company that has reduced or skipped a dividend in the past five years.