BofA, Wells Fargo clear first stress-test hurdle

BofA, Wells Fargo clear first stress-test hurdle

Bank of America Corp., Wells Fargo & Co. and the nation’s other biggest banks have enough capital on hand to weather another severe recession, the Federal Reserve said in releasing its latest “stress tests” results. The annual exams measure whether the 34 banks have enough capital to absorb losses and continue lending in periods of stress. Next week, the Fed will say whether it objects to banks’ proposed plans to return additional capital to shareholders, such as through buying back stock or boosting dividends.

Click to read...  N.C. Speaker: State on cusp of landing 8,600 jobs
2
Like
Save
Privacy Policy | Terms of Service | Curation Policy | DMCA Policy