JPMorgan, Goldman Sachs Capital Plans Clear Fed Review

JPMorgan Chase & Co. and Goldman Sachs Group Inc., the world’s biggest trading firms, had their revised capital plans for 2013 cleared by the Federal Reserve yesterday, a month before next year’s submissions are required.

While the Fed didn’t object to the banks’ proposals in March, the New York-based firms were required to resubmit them after weaknesses were found in projections of revenue and potential losses, a Fed official said at the time. The submissions from all 18 banks in this year’s Comprehensive Capital Analysis & Review, or CCAR, are now approved ahead of the next round due the first week of January.