Bank of America Says it Started Talks With Fed After Stress Test Results
- Two lenders says their own income projections differ from Fed
- Annual stress test results help determine investor payouts
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Two of Wall Street’s largest lenders are questioning the Federal Reserve’s projections for their future income, the latest sign of tension around the central bank’s annual stress tests.
Bank of America Corp. and Citigroup Inc. said Monday that they are in discussions with the central bank after their own estimates differed from those of the Fed. The results of the yearly exams and projections are closely watched because they are a key factor in determining how much banks can return to investors in payouts.