JPMorgan Chase (JPM) and Goldman Sachs (GS) both received "conditional approval" for their capital plans, with the Fed requiring both companies to submit revised capital plans "by the end of the third quarter to address weaknesses in their capital planning processes."
The Comprehensive Capital Analysis and Review was the second part of the Fed's annual stress test process. The first part of the process ended last Thursday, when the Federal Reserve said 17 of 18 large financial holding companies could weather a nasty recession beginning in 2013 and remain well capitalized through the end of 2014.
-- Written by Antoine Gara in New YorkFollow @antoinegara
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV