JPMorgan and Capital One had to lower shareholder payouts to get Fed approval

Capital One Financial and JPMorgan Chase had to reduce their planned shareholder payouts in order to get the Federal Reserve to approve the distributions, the central bank said Thursday.

The Fed said Capital One COF, -0.06% and JPMorgan Chase JPM, +0.33% would have had minimum capital ratios lower than required under the plans they submitted to the Fed and after the stress test. Both were able to get Fed approval by reducing those shareholder distributions by an unspecified amount.

In addition, the Fed said Credit Suisse CS, +2.56% will have to address weaknesses in its capital adequacy process by the end of October.

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