Soon after the Federal Reserve acknowledged that large U.S. banks were more than adequately capitalized, the firms quickly unveiled plans to buy back stock. Among America’s largest lenders, the repurchase of more than $80 billion worth of shares was authorized last week after every firm passed the central bank’s annual stress tests for the first time since the Fed began the reviews following the 2008 financial crisis. JPMorgan Chase & Co. and Citigroup Inc. topped the list with planned repurchases of $19.4 billion and $15.6 billion, respectively, over the next 12 months.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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