The Federal Reserve extended until next year the capital plan resubmission deadlines for Citigroup Inc., HSBC North America Holdings Inc., RBS Citizens Inc., and Santander Holdings USA Inc. after objecting to earlier versions.
The June 26 resubmission deadline now will be pushed back until Jan. 5, the due date for the next round of annual plans, the Fed said today in a statement in Washington. Regulators at the central bank objected to the capital plans from the banks during the 2014 Comprehensive Capital Analysis and Review, according to the statement.
"The firms will not be able to increase their capital distributions until a new capital plan is approved," the Fed said in the statement.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
