The Federal Reserve on Monday said it dismissed the stress-test appeals lodged by five banks. BMO Financial (BMO.T), Capital One Financial (COF), Citizens Financial (CFG), The Goldman Sachs Group (GS), and Regions Financial (RF) each went through a reconsideration process, which involved an independent group that analyzed and evaluated the results, the Fed said. The results were checked for errors and to ensure that the stress test models worked as intended and were consistent with the board's stress test framework. The Fed also announced the capital requirements as of Oct. 1, which consist of at least 4.5% in minimum capital, a stress capital buffer of at least 2.5% and where applicable a capital surcharge for global systemically important banks of at least 1%. Total capital requirements range from 7% at several banks to as high as 13.4% at Morgan Stanley (MS).
-Steve Goldstein; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 10, 2020 09:41 ET (13:41 GMT)
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