by Calculated Risk on 3/26/2014 06:55:00 PM

From the Federal Reserve: Comprehensive Capital Analysis and Review

The Federal Reserve on Wednesday announced it has approved the capital plans of 25 bank holding companies participating in the Comprehensive Capital Analysis and Review (CCAR). The Federal Reserve objected to the plans of the other five participating firms--four based on qualitative concerns and one because it did not meet a minimum post-stress capital requirement.
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When considering an institution's capital plan, the Federal Reserve considers both qualitative and quantitative factors. These include a firm's capital ratios under severe economic and financial market stress and the strength of the firm's capital planning process. After the Federal Reserve objects to a capital plan, the institution may only make capital distributions with prior written approval from the Federal Reserve.
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Based on qualitative concerns, the Federal Reserve objected to the capital plans of Citigroup Inc.; HSBC North America Holdings Inc.; RBS Citizens Financial Group, Inc.; and Santander Holdings USA, Inc. The Federal Reserve objected to the capital plan of Zions Bancorporation because the firm did not meet the minimum, post-stress tier-1 common ratio of 5 percent.

Thursday:
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 325 thousand from 320 thousand.

• Also at 8:30 AM, The third estimate of Q4 GDP from the BEA. The consensus is that real GDP increased 2.7% annualized in Q4, revised up from the second estimate of 2.4%.

• At 10:00 AM, Pending Home Sales Index for February. The consensus is for a 0.8% decrease in the index.

• At 11:00 AM, the Kansas City Fed manufacturing survey for March.