Fed bars BofA from raising dividends after flawed capital submission


The Federal Reserve has ordered Bank of America to suspend planned dividend increases after the lender revealed today that inaccuracies "related to the treatment of certain structured notes assumed" in its takeover of Merrill Lynch in 2008 has caused it to "overstate" capital ratios.

Bank of America said it had revised down its capital and leverage ratios – most recently submitted to the Fed as part of the central bank's Comprehensive Capital and Analysis Review (CCAR) wrapped up last month – af

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: