- 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.