Fed approves buyback, dividend plans for largest US banks

Fed approves buyback, dividend plans for largest US banks

The Fed on Thursday said it had approved the capital plans the nation’s 18 largest banks submitted as part of this year’s stress tests. This means it determined the banks could raise their dividends and buy back more shares this year. Immediately after the Fed’s announcement, the major banks started unveiling their plans. JPMorgan said it plans to buy back $29.4 billion in shares this cycle.

Timothy
Timothy
mcpimpen
mcpimpen 7 months

Didn't these same banks forecast a crash this year?

Pete Nell
Pete Nell 7 months

If they did then buying back the stock now is paying the shareholders with company funds. IE, buy the employees and investors shares at high prices before they tumble.

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