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9/30, 10:25 PM (Source: TeleTrader)
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Fed extends measures to help banks with resilience

The United States Federal Reserve Board announced on Wednesday that it is extending measures that will allow banks with over $100 billion in total assets to keep high levels of capital resilience for longer. The extension will include the entire fourth quarter of 2020, the Fed added.

During the period, the financial institutions won't be allowed to repurchase shares and their dividend payments will be limited as a result of economic uncertainty due to the coronavirus pandemic.

The Fed also announced that it will perform a second stress test on large banks to test their capital resilience.

Breaking the News / VP