$SPY The Fed announced that it is suspending stock buybacks at large banks and capping the dividends they can pay to shareholders to ensure the firms have enough loss-absorbing capital to keep lending during the coronavirus pandemic. The Fed also said it is requiring all 34 big banks that participated in the stress tests to resubmit their capital plans bc the economic outlook is so uncertain. In previous years, that’s only been required for banks that didn’t pass the tests. This means that one or more banks failed the stress test but to avoid a run on those banks they are making them all re-submit their capital plans. Very bearish in my opinion.
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