PR Newswire
CHARLOTTE, N.C., June 28, 2024 /PRNewswire/ -- Bank of America today commented on the results of the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR) and announced plans to increase its quarterly common stock dividend to $0.26 per share beginning in the third quarter of 2024.
Based on the 2024 CCAR results, Bank of America's stress capital buffer (SCB) will be 3.2% and the CET1 minimum requirement will be 10.7% when finalized. This new SCB will be effective from October 1, 2024 to September 30, 2025. At March 31, 2024 Bank of America had $197 billion of regulatory CET1 capital and a CET1 ratio of 11.9% which exceeds our current regulatory minimum requirement of 10.0%.
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