A check of payout ratios allowed by CCAR process

|By:, SA News Editor

Count Credit Suisse's Moshe Orenbuch as surprised about the Fed's denial of Citigroup's (C -0.5%) capital return plan. Maybe Citi is just too tough for regulators to get their arms around as it is the most complicated of all the bank holding companies.

Included in the Credit Suisse report is this handy chart of dividends, buybacks, and payout ratios for all of the CCAR banks for 2013 and 2014. Things are loosening up - the median payout ratio (includes dividends and buybacks) this year of 71% compares to 59% in 2013. The dividend payout ratio rises to 26% from 23%.

It helps to be smaller - among the TBTFs, Citi's payout ratio is just 8%, BofA (BAC) 37%, JPMorgan (JPM) 56%, Morgan Stanley (MS) 41%. Wells Fargo is above the median though, being allowed a payout of 79%.

The regionals (KRE), trust banks, and credit card companies - for the most part - were all allowed payout ratios above the median.

The strongest capital returns vs. CS's expectations are those for BNY Mellon (BK), Capital One (COF), KeyCorp (KEY), Huntington Bancshares (HBAN), PNC Financial, and Wells Fargo.

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