Bay View Capital Corp. of San Mateo, Calif., said Monday that the Federal Reserve Bank of San Francisco has denied its request to pay the Sept. 30 dividend on its Capital Securities bonds.

The distribution will be deferred until the $6 billion-asset parent company of Bay View Bank meets certain capital, liquidity, and other requirements, company officials said. Bay View must also seek permission from the Federal Reserve to distribute future dividend payments on its common stock.

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