Major US Banks Announce Increased Dividends and Buybacks After Passing Fed Stress Tests
JPMorgan, Bank of America, and others boost shareholder returns following Federal Reserve's positive assessment.
- JPMorgan and Morgan Stanley lead with significant dividend hikes and new share repurchase programs.
- Citigroup, Wells Fargo, and Bank of America also announce higher dividends, though with more modest increases.
- The Federal Reserve's stress tests confirmed that all 31 tested banks could endure a severe economic downturn.
- The new capital distribution plans reflect confidence despite looming regulatory changes under Basel III.
- Some banks, like Goldman Sachs, saw notable increases in their stress capital buffers, prompting further regulatory discussions.