Buffett's Berkshire (BRK-A) Gets $120M Windfall from Boosted Bank Dividends
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Banks Announce Capital Plans
March 14, 2013 6:12 PM EDTThe nation's largest banks announced their capital plans Thursday evening following Federal Reserve approval. The Fed approved 14 of 18 capital plans, denied 2 and wanted 2 others to resubmit.
The Federal Reserve did not object to the capital plans for The Goldman Sachs Group (NYSE: GS), Inc., and JP Morgan Chase & Co. (NYSE: JPM), but required the two institutions to submit new capital plans by the end of the third quarter to address weaknesses in their capital planning processes. The Federal Reserve objected to the capital plans of Ally... More
Warren Buffett Still Has His Meat Hooks in Bank of America (BAC)
March 14, 2013 5:45 PM EDTWith its Fed-approved capital plan tonight, Bank of America Corp. (NYSE: BAC) announced that it will redeem $5.5 billion in preferred stock in addition to a $5 billion share repurchase plan.
Given that he is a preferred stock owner in the company, the news may have made legendary investor Warren Buffett blink. However, it looks like the Oracle's preferred stock... More
Bank of America (BAC) to Buyback $5B in Stock, Redeem $5.5B in Preferred
March 14, 2013 4:46 PM EDTBank of America Corp. (NYSE: BAC) authorized the repurchase of up to $5.0 billion of common stock and the redemption of approximately $5.5 billion in preferred stock.
The Federal Reserve Board has informed the company that it completed its 2013 Comprehensive Capital Analysis and Review and that it did not object to the companys capital plan, including proposed capital actions.
"We have simplified our company and we have more than... More
