6 Biggest US Banks Ramp Up Buybacks, Undeterred By Stress Tests
6 Biggest US Banks Ramp Up Buybacks, Undeterred By Stress Tests
The six biggest banks in the U.S. have not let this week's stress tests on capital levels deter them from returning value to shareholders.
美國六大銀行未因本週的資本水平壓力測試而放棄向股東返還價值。
JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC), Wells Fargo & Company (NYSE:WFM), Citigroup Inc. (NYSE:C), U.S. Bancorp (NYSE:USB) and The PNC Financial Services Group, Inc. (NYSE:PNC) bought back more than $14 billion in shares in the first quarter, registering a 73% leap from the pace set in the last six months of 2023, Bloomberg reported.
JPMorgan Chase & Co.（NYSE：JPM），美國銀行公司（NYSE：BAC），富國銀行（NYSE：WFM），花旗集團（NYSE：C），美國合衆銀行（NYSE：USB）和PNC金融服務集團（NYSE：PNC）在第一季度回購了超過140億美元的股票，在去年的後6個月裏增長了73％，據彭博社報道。
The annual stress test, which came out of the 2008 financial crisis and is set to release the latest results on Wednesday, often determines how eager banks are in returning capital to shareholders through dividends and buybacks.
這項源自2008年金融危機的年度壓力測試，即將發佈最新結果，通常決定銀行通過股息和回購的方式向股東返還資本的意願。
The yearly exams require banks to consider hypothetical crisis scenarios and estimate the losses they might sustain based on their books of business as a way to determine how much capital they can pay out to investors, based on a minimum requirement known as the stress capital buffer.
年度考試要求銀行考慮假想的危機情境，並根據他們的業務簿記預估可能遭受的損失，以確定他們可以支付多少資本金給投資者，這基於最低的壓力資本緩衝要求。
Also read: Fed Gov. Cook Calls For Lower Interest Rates 'At Some Point'
還可閱讀：聯儲局官員庫克呼籲在某些時候降低利率。
They had initially held back on buybacks last year in response to new capital-rule proposals, but the Fed has indicated loosening those measures through "broad and material changes," according to Chairman Jerome Powell.
去年，由於新的資本規則提議，它們最初推遲了回購，但聯儲局主席傑羅姆·鮑威爾表示，通過“廣泛而實質性的變化”放鬆這些措施。
The proposals, which are called Basel III Endgame and were unveiled in 2023 by The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of Currency, would require banks to up their capital by 19%. The Fed, however, has shown changes that would result in a capital increase of only 5%, according to Bloomberg.
2013年，美國聯邦儲備委員會，聯邦存款保險公司和貨幣監理局公佈了名爲“巴塞爾III終局”的提議，要求銀行增加19％的資本金。然而，據彭博社報道，聯儲局已顯示出只會導致資本增長5％的變化。
Price action: JPMorgan Chase and Bank of America both slipped 0.85% in Wednesday's early-morning trading, while Wells Fargo ticked up 0.52%. Citigroup declined 1.22% as U.S. Bancorp shed 1.02% and PNC Financial Services dipped 0.52%.
價格行動：週三早盤交易中，摩根大通和美國銀行均下跌0.85％，富國銀行上漲0.52％。花旗集團下跌1.22％，美國合衆銀行下跌1.02％，PNC金融服務下跌0.52％。
Invesco KBW Bank ETF (NASDAQ:KBWB) lost 0.80% in the early-morning session, while SPDR S&P Bank ETF ARCA:KBE) and First Trust Nasdaq Bank ETF (NASDAQ:FTXO) both fell 0.85.
Invesco KBW銀行ETF（NASDAQ：KBWB）在早盤交易中下跌0.80％，而SPDR S&P銀行ETF ARCA:KBE）和First Trust納斯達克銀行ETF（NASDAQ:FTXO）均下跌0.85％。
Read now: Janet Yellen Says 'Inflation To Come Down' To 'Fed's 2% Target' By 2025, Dismisses Possibility Of US Recession
現在閱讀：珍妮特·耶倫表示“通脹將在2025年前下降到聯儲局的2％目標”，否認美國經濟衰退的可能性。
Photo: Shutterstock
Photo: shutterstock