Bank of America Corp (NYSE:BAC) said Monday that it would revise its previously announced regulatory capital ratios downward and suspend its share buyback.
The announcement marks a serious blow for the bank that had passed the stress test easily and was permitted to enhance its dividend for the first time since the financial crisis.
Bank of America passed stress test
Last month,the Federal Reserve approved the capital plans of 25 of the 30 financial institutions participating in the Comprehensive Capital Analysis and Review (CCAR).
However, Setup a free account to get access to this article (no credit card required).Login required to continue reading.
Already a member? Log in here
