Bank of America Corp on Monday said it had begun a dialogue with the Federal Reserve to understand differing results of the central bank's stress test and the company's own under the Dodd-Frank Act.
A Bank of America logo is seen outside a bank branch in Charlotte, North Carolina January 19, 2010. REUTERS/Chris Keane/File Photoon Monday said it had begun a dialogue with the Federal Reserve to understand differing results of the central bank's stress test and the company's own under the Dodd-Frank Act.showed lenders including Bank of America have enough capital to weather a severe economic slump, paving the way for them to issue share buybacks and dividends.
The bank said in a statement however that it wants to understand the differences in a category called "other comprehensive income" during a nine-quarter period measured in the tests. Bank of America, the second-biggest U.S. bank, has not made any announcements about its dividend or share repurchase programs since the stress test results were published.
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