SunTrust CEO Says He Won’t Have CCAR ‘Conservative Bias’Laura Marcinek
SunTrust Banks Inc. Chief Executive Officer William Rogers said his lender will be less conservative when proposing capital actions during the Federal Reserve’s 2014 stress tests.
“For 2013, we said very publicly and I think appropriately with an abundance of caution, we’re going to be conservative with how we approached CCAR,” Rogers said today at a conference in New York, referring to the Comprehensive Capital Analysis and Review. “Without declaring exactly where we’re going to be, what I would say is we won’t have a conservative bias” in 2014, he said.
SunTrust, based in Atlanta and Georgia’s biggest lender, in March announced its first common-stock buyback since the financial crisis after the Fed approved its capital plan.