Arab Today, arab today math error halts bank of america\s stock buy back and dividend increase
Last Updated : GMT 20:01:04
Arab Today, arab today
Arab Today, arab today

Math error halts Bank of America\'s stock buy back and dividend increase

Arab Today, arab today

Arab Today, arab today Math error halts Bank of America\'s stock buy back and dividend increase

Williston - UPI

Bank of America has had to halt its proposed stock buy back and dividend increase because of a math error in its stress test submission to the Federal Reserve. The bank will have to hold off its proposed plans after it discovered an error in the way it calculated its capital levels. It will now have to resubmit its stress test numbers within 30 days before going ahead with any other proposed actions. "Bank of America is by far not the first big bank to make a mistake in its CCAR submission," David Hilder, an analyst at Drexel Hamilton in New York, told Bloomberg. The Fed had approved on March 26 Bank of America's request to increase its dividend from a penny a common share to five cents and to buy back $4 billion in shares. But with the errors in its reporting, the bank would have to lower its request. The error means the bank has less high-quality capital than it previously reported, although it still has enough to meet regulatory requirements. Bank of America said the error had no impact on its recently announced earnings. Bank of America noticed the error last week while preparing its Q10 quarterly regulatory filing and immediately notified the Fed. The error had reportedly gone undetected since Bank of America's acquisition of Merrill Lynch in 2009, a person close to the matter told Bloomberg on condition of anonymity. This mistake is another setback for the bank and CEO Brian T. Moynihan, who have been dealing with regulatory issues stemming from the acquisitions of Merrill Lynch and mortgage-lender Countrywide Financial Corp. during the financial crisis.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today math error halts bank of america\s stock buy back and dividend increase Arab Today, arab today math error halts bank of america\s stock buy back and dividend increase

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today math error halts bank of america\s stock buy back and dividend increase Arab Today, arab today math error halts bank of america\s stock buy back and dividend increase

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday