Fed Caps Bank Payouts Amid Loss Threat
Friday, June 26, 2020 in Press
The Federal Reserve will require all large banks to suspend share buybacks in the third quarter and will cap shareholder dividends to make sure the financial institutions remain strong enough to lend to the nation's struggling businesses.
Dividends will be capped at the amount paid in the second quarter, and can only be increased if a company has sufficiently high earnings. And on top of all that, every bank will be required to re-evaluate their capital plans, the Fed said. Read more
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