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Fed does not object to Bank of America capital plan
August 6, 2014 / 1:20 PM / in 3 years

Fed does not object to Bank of America capital plan

WASHINGTON, Aug 6 (Reuters) - The U.S. Federal Reserve said on Wednesday it had approved a resubmitted capital plan from Bank of America, part of an annual stress test of banks’ financial robustness.

In April, the Fed required Bank of America to resubmit its capital plan and to suspend planned increases in capital distributions after the bank disclosed it had incorrectly reported data used in its calculations.

Reporting by Douwe Miedema; Editing by Bill Trott

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