Fed Rejects Capital Plans Of Citigroup Inc, HSBC, RBS, Others
The Federal Reserve announced today that it has rejected the capital plans for five of the 30 bank holding companies (BHC) that took part in its most recent stress test (the other 25 can proceed as planned). The rejection of Zions Bancorporation (NASDAQ:ZION)'s capital plans was already a given. As the only BHC to fail the stress test it will have to resubmit and either reduce its risk exposure or increase its tier 1 capital (or both) and then submit new . . .
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