Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) (AMS:RBS), HSBC Holdings plc (ADR) (NYSE:HSBC) (LON:HSBA) and Banco Santander, S.A. (ADR) (NYSE:SAN) (MCE:SAN) who failed the Fed’s CCAR on qualitative grounds, have to undertake remediation of the issues that led to the Fed’s objections, point out Jefferies analysts.
Joseph Dickerson and team at Jefferies in their recent report dated March 27, 2014 point out that these three banks may not increase distributions without written permission from the Fed.
Fed rejecting capital plans of Citigroup, RBS and more
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