Fed Accepts Zion Capital Plans, Details Not Disclosed

Zions Bancorporation (NASDAQ:ZION) is up 1.8% in trading today after the Federal Reserve announced that it had accepted the bank’s re-submitted capital plan, as the bank managed to squeak out a 5.1% capital tier 1 common ratio even under the new severe adverse conditions set by the Federal Reserve. Zions was the only bank to fall below the minimum ratio in this year’s stress test, though other banks also had their capital plans rejected because the dividends and buybacks were judged to be too high. Zions expected to raise $300 million or more in common equity The details of Zions…