Amid Covid crisis, top US banks give $32bn away to shareholders
Buybacks exceeded Q1 2019 total, despite voluntary suspension on March 15
Systemically important US banks handed out $32.4 billion to shareholders in the first quarter of 2020, depleting capital despite the looming threat of heavy losses from a coronavirus-induced recession.
Had the eight global systemically important banks (G-Sibs) forgone Q1 dividends and stock buybacks, their aggregate Common Equity Tier 1 (CET1) capital at end-March would have been about 4% higher.
In total, the eight G-Sibs distributed $9 billion in dividends and conducted $23.4 billion of
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