Fed set to say whether approves bank plans to return money to investors

|By:, SA News Editor

The Federal Reserve is due to say today whether it approves banks' plans to pay dividends and/or repurchase stock. The process is spread out over a week so that banks can alter their programs if they don't receive Fed authorization.

Last year, the Fed told JPMorgan (JPM) and Goldman Sachs (GS) to change their capital-allocation plans.

The Fed's decision will come a week after it said that 29 out of 30 banks had passed its stress tests.

Relevant tickers include C, MS, BAC, BK, AXP, COF, C, FITB, PNC, RF, STT, STI, USB, WFC, ZION.

ETFs of interest: KBE, KBWB, KRE, KCE, KBWC, XLF, IYF, PFI, VFH, RYF, RWW, FAS, UYG, FAZ, SKF, SEF, IAI, FXO, PSCF, KBWD, KBWB, IYG, FINU, FINZ.