JPMorgan sets new $30B buyback program after stress test

• JPMorgan (NYSE:JPM) gains 5.4% in after-hours trading after announcing plans to begin stock buybacks in Q1 2021.
• The company's board authorized a new common equity share repurchase program of $30B after the results of the Fed's latest stress tests.
• JPM plans to keep the bank's quarterly dividend at 90 cents per share for Q1 2021.
• Under the Round 2 stress test, JPM's Basel III Standardized approach minimum Common Equity Tier 1 capital ratio remains at 11.3%, inclusive of the Stress Capital Buffer requirement of 3.3%.