“The Federal Reserve on Wednesday announced it has not objected to the capital plans of 28 bank holding companies participating in the Comprehensive Capital Analysis and Review (CCAR). One institution received a conditional non-objection based on qualitative grounds, and the Federal Reserve objected to two firms’ plans on qualitative grounds. In its fifth year, CCAR evaluates the capital planning processes and capital adequacy of the largest U.S.-based bank holding companies, including the firms’ planned capital actions such as dividend payments and share buybacks and issuances. Strong capital levels act as a cushion to absorb losses and help better ensure that banking organizations have the ability to lend to households and businesses even in times of stress. When considering an institution’s capital plan, the Federal Reserve considers both quantitative and qualitative factors. These include, respectively, a firm’s projected capital ratios under a hypothetical scenario of severe economic and financial market stress and the strength of the firm’s capital planning processes. The Federal Reserve may object to a capital plan based on quantitative or qualitative concerns. After the Federal Reserve objects to a capital plan, the institution may not make any capital distribution unless expressly permitted by the Federal Reserve. “Our capital plan review helps ensure that the capital distribution plans of large banks will not compromise their ability to continue lending to businesses and households even during a period of serious financial stress,” Federal Reserve Gov. Daniel K. Tarullo said. “It also provides a structured assessment of their risk management capacities.” The Federal Reserve did not object to the capital plans of Ally Financial, Inc.; American Express Company; The Bank of New York Mellon Corporation; BB&T Corporation; BBVA Compass Bancshares, Inc.; BMO Financial Corp.; Capital One Financial Corporation; Citigroup, Inc.; Citizens Financial Group; Comerica Incorporated; Discover Financial Services; Fifth Third Bancorp; Goldman Sachs Group, Inc.; HSBC North America Holdings, Inc.; Huntington Bancshares, Inc.; JP Morgan Chase & Co.; Keycorp; M&T Bank Corporation; Morgan Stanley; MUFG Americas Holdings Corporation; Northern Trust Corp.; The PNC Financial Services Group, Inc.; Regions Financial Corporation; State Street Corporation; SunTrust Banks, Inc.; U.S. Bancorp; Wells Fargo & Company; and Zions Bancorporation. Goldman Sachs Group, Inc., JP Morgan Chase & Co., and Morgan Stanley met minimum capital requirements on a post-stress basis after submitting adjusted capital actions.”

• Comprehensive Capital Analysis and Review 2015: Assessment Framework and Results
• Board Votes