US banks get all-clear on resuming limit-free share buybacks after passing Fed stress tests
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Insider Inc.
GmbH (Imprint
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the US Fed
the Federal Reserve
Goldman Sachs
JPMorgan
Citigroup
Bank of America
Wells Fargo
Morgan Stanley
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Kevin Lamarque
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Randal Quarles
Schwab
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Summary
"Over the past year, the Federal Reserve has run three stress tests with several different hypothetical recessions and all have confirmed that the banking system is strongly positioned to support the ongoing recovery," Randal Quarles, the Fed's vice chair for supervision, said in the statement.By demonstrating their solid liquidity buffers and risk appetite, banks including Goldman Sachs, JPMorgan, Citigroup, Bank of America, and Wells Fargo will be given the all-clear to lift limits on buybacks and investor payouts on June 30.The Fed said it expects banks to wait until Monday to analyze the stress test results before announcing shareholder payouts.Most bank stocks cheered the Fed's stress test results.
As said here by Shalini Nagarajan