JPMorgan Chase and Goldman Sachs Group, the worlds biggest trading firms, had their revised capital plans for 2013 cleared by the Federal Reserve on Monday, a month before next years submissions are required.
While the Fed didnt object to the banks proposals in March, the New York-based firms were required to resubmit them after weaknesses were found in projections of revenue and potential losses, a Fed official said at the time. The submissions from all 18 banks in this years Comprehensive Capital Analysis & Review, or CCAR, are now approved ahead of the next round due the first week of January.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access