A Bank of America logo is seen outside a bank branch in Charlotte, North Carolina January 19, 2010. REUTERS/Chris Keane/File Photosaid on Monday it had begun a dialogue with the Federal Reserve to understand differing results between the central bank's stress test and the company's own under the Dodd-Frank Act.
Unlike rivals, BofA, the second-biggest U.S. lender, has not made any announcements about its dividend or share repurchases since the stress test results wereThe Fed's annual test showed major lenders, including BofA, have enough capital to weather a severe economic slump, paving the way for them to issue share buybacks and dividends.
But BofA wants to understand the differences in a category called "other comprehensive income" during a nine-quarter period measured in the test, it said in a statement.BofA's own analysis implied a worse result than the Fed's test last week, Piper Sandler analyst R. Scott Siefers said in a note published on Monday.
The discrepancy means "a little more uncertainty in BAC's results than we would like, but hopefully no change to the end result" of the bank meeting a key regulatory requirement, he wrote.
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