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11 Mar 2015
Two banks failed Fed stress tests, BofA to resubmit plan
FXStreet (Córdoba) - After concluding the stress tests, 28 of 31 banks received approval from the Federal Reserve to return capital to investors.
Deutsche Bank and Banco Santander have failed their stress tests for "qualitative" deficiencies, the Federal Reserve announced Wednesday. Meanwhile, Bank of America received conditional approval and is being required to resubmit its capital plan by the end of September given “certain weaknesses in its capital planning processes.”
The Fed revealed that Goldman Sachs, JP Morgan and Morgan Stanley capital plans were approved only after the banks made adjustments, namely lowered planned shareholder distributions.
Deutsche Bank and Banco Santander have failed their stress tests for "qualitative" deficiencies, the Federal Reserve announced Wednesday. Meanwhile, Bank of America received conditional approval and is being required to resubmit its capital plan by the end of September given “certain weaknesses in its capital planning processes.”
The Fed revealed that Goldman Sachs, JP Morgan and Morgan Stanley capital plans were approved only after the banks made adjustments, namely lowered planned shareholder distributions.