Finance
Wall Street Banks Accelerate Buybacks Ahead of Fed Stress Tests
- Six largest lenders repurchased $14 billion in first quarter
- Results of regulators’ annual exam set for release Wednesday
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The biggest US banks haven’t waited for this week’s stress tests to signal optimism about their capital levels.
The six largest lenders bought back more than $14 billion of stock in the first quarter, a 73% jump from the meager pace in last year’s second half. The banks had slowed their buybacks in the face of new capital-rule proposals, but in recent months all signs have pointed to those getting watered down.