Bank of America to hold talks with Fed on stress test results By Reuters

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<span>© Reuters. FILE PHOTO: A Bank of America logo is seen outside a bank branch in Charlotte, North Carolina January 19, 2010. REUTERS/Chris Keane/File Photo</span><br />
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<p>NEW YORK (Reuters) – Bank of America Corp (NYSE:) on Monday said it had begun a dialogue with the Federal Reserve to understand differing results of the central bank’s stress test and the company’s own under the Dodd-Frank Act.</p>
<p>The results of the Fed’s latest annual stress test released last week showed lenders including Bank of America have enough capital to weather a severe economic slump, paving the way for them to issue share buybacks and dividends.</p>
<p>The bank said in a statement however that it wants to understand the differences in a category called “other comprehensive income” during a nine-quarter period measured in the tests.</p>
<p>Bank of America, the second-biggest U.S. bank, has not made any announcements about its dividend or share repurchase programs since the stress test results were published. </p>
<p>Rivals including JPMorgan Chase (NYSE:), <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Wells Fargo </span></span> (NYSE:), Goldman Sachs (NYSE:) and <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Morgan Stanley </span></span> (NYSE:) hiked their third-quarter dividends on Friday after sailing through the health check.</p>
<p>Last year Bank of America raised its dividend to 22 cents, the highest level since 2008, from 21 cents in 2021. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/bank-of-america-to-hold-talks-with-fed-on-stress-test-results-3118842">Source link </a></p><p>The post <a href="https://forextraderhub.com/bank-of-america-to-hold-talks-with-fed-on-stress-test-results-by-reuters.html">Bank of America to hold talks with Fed on stress test results By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>