Fed Extends Capital Plan Deadline Covering 4 Big Banks

Benzinga

Trading is mixed in the four big banks that obtained extended deadlines for resubmitting capital plans to regulators Monday.

They include Citigroup (NYSE: C), HSBC North America (NYSE: HSBC), privately held RBS Citizens Financial Group and Banco Santander (NYSE: SAN), the Federal Reserve said.

The deadlines were extended from June 26, 2014, to January 5, 2015 after the Fed lodged objections to each separately.

All are barred from paying dividends until their plans get approved.

Citigroup traded recently up 0.04 percent to $48.07; HSBC changed hands down 0.46 percent at $51.41 and Santander is about even at $10.59.

Zions Bancorp was also slated to resubmit a plan to regulators but hasn't requestioned an extended deadline.

Bank of America resubmitted its plan in May after it discovered a $4 billion error on its books.

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