US banks want urgent guidance on capital plan updates

Call for Fed to provide Covid scenarios by start of September, not in fourth quarter

Federal reserve
The Federal Reserve: more clarity needed

US banks want guidance as quickly as possible on the method and timing for the resubmission of 2020 capital plans, with some urging regulators to kick off the process in early September. Bankers are hoping for further announcements imminently, citing the dangers of fresh complications if the start date is delayed into the fourth quarter.

“The banks are worried about the uncertainty, they don’t want this uncertainty to continue until the end of the year,” an industry source says.

The deadline

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