X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

This year’s Federal Reserve stress test declared, once again, that the nation’s largest banks are strong enough to weather a severe recession without being bailed out. The big question is whether determining that is still worth it.

On Thursday, the Fed, for the fourth consecutive year, gave JPMorgan Chase & Co., Bank of America Corp. and more than two dozen large U.S. bank the go-ahead to return buckets of cash to their shareholders —  $93 billion in stock buybacks in the next year for the six largest banks, up from $66 billion last year. After doing worse than expected on the test, Goldman Sachs Group Inc. agreed to keep payouts, including dividends, in line with the average of the past two years, and Morgan Stanley maintained the level it paid in the past 12 months. Those two banks, along with State Street Corp., will have to resubmit a portion of their test later in the year for final approval.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.