State Street (STT) Plans $2.1B Buyback

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Go back to State Street (STT) Plans $2.1B Buyback

Fed Approves 14 of 18 Banks' Capital Plans; BB&T (BBT), Ally Rejected; Wants New Plans from JPMorgan (JPM) and Goldman Sachs (GS)

March 14, 2013 4:35 PM EDT

The Federal Reserve on Thursday announced it has approved the capital plans of 14 financial institutions in the Comprehensive Capital Analysis and Review (CCAR). Two other institutions received conditional approval, while the Federal Reserve objected to the plans of two firms.

Strong capital levels help ensure that banking organizations have the ability to lend to households and businesses and to continue to meet their financial obligations, even in times of economic difficulty. The Federal Reserve in CCAR evaluates the capital planning processes and capital adequacy of the largest bank holding companies, including the firms' proposed capital actions such as... More