Goldman Says Stress Test Fails to Reflect Evolution of Business
By Josh Beckerman
Goldman Sachs Group said the Federal Reserve notified the firm of a Stress Capital Buffer of 6.4%, resulting in a Standardized Common Equity Tier 1 ratio requirement of 13.9%, which will become effective on Oct. 1.
"This increase does not seem to reflect the strategic evolution of our business and the continuous progress we've made to reduce our stress loss intensity, which the Federal Reserve had recognized in the last three tests," Chairman and Chief Executive Officer David Solomon said in a statement. "We will engage with our regulator to better understand their determinations."
Goldman's capital plan includes boosting its to $3 from $2.75 starting July 1.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
June 28, 2024 17:32 ET (21:32 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations