Dealbreaker’s Matt Levine opines: We’ve talked about the fact that Citi “failed” the Fed’s stress tests in the sense that its plan to return capital was Too Big, and so it got whacked by markets. Bank of America passed with flying colors, so, tiny yaaaaay, but the Journal puts that in context:
The situation at Citigroup [what with the failing and such] was reminiscent of a similar setback suffered last year by Bank of America Corp. when the Fed denied its request for a dividend increase. CEO Brian Moynihan had earlier hinted raising the dividend was likely. This time around, Bank of America didn’t seek a increase of its quarterly dividend, currently one penny.
In fact! BofA seems to have some capital raising in mind...
Wait, wait...find out more at http://dealbreaker.com/2012/03/bofas-success-looks-a-bit-worse-than-citis-failure/#more-70931
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