U.S. Fed does not object to new Goldman, JPMorgan capital plans
WASHINGTON Dec 2 (Reuters) - The U.S. Federal Reserve said on Monday it did not object to new capital plans by Goldman Sachs and JPMorgan Chase, after regulators said the initial versions showed weaknesses in the banks' capital planning processes.
The capital plans are part of the stress-testing regime meant to determine how the biggest U.S. banks would fare in a financial meltdown. Regulators began the tests after the 2007-2009 crisis.
In March, the Fed approved Goldman's and JPMorgan's plans to buy back shares and pay dividends, but regulators told both banks to fix flaws in how they determined capital payouts to shareholders.
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