One week after the Fed found that all 33 US major banks have passed the stress test and would survive even a surge in the VIX to 70, moments ago the Fed released the details of the second part of the stress test - the capital distribution to shareholders - where as expected, it also had no complaints to any bank's capital plans except to advise Capital One, the troubled credit card lender with the soaring bad loans, to resubmit its plan. Discussing Capital On, the Fed said "the firm’s capital plan did not appropriately take into account the potential impact of the risks in one of its most material businesses. Further, the firm’s internal controls functions, including independent risk management, did not identify these material weaknesses in the firm’s capital planning practices. Therefore, senior management was not in a position to provide the firm’s board of directors with a reliable assessment upon which to determine the reasonableness of the capital plan." The Fed also said if Capital One doesn’t satisfactorily address these weaknesses by Dec. 28, then the Fed expects to object to Capital One’s resubmitted capital plan and it may restrict the firm’s capital distributions. COF stock is sliding as a result: Meanwhile, for all the other banks, here are their buybacks and dividend announcements as they trickle in. Here are the buyback announcements: ALLY TO BUY BACK UP TO $760M OF SHARES AMERICAN EXPRESS TO BUY BACK UP TO $4.4B OF SHRS CAPITAL ONE SEES BUYING BACK UP TO $1.80B SHRS CITIGROUP TO BUY BACK UP TO $15.6B SHARES, BOOST DIV TO 32C/SHR CITIZENS PROPOSES COMMON SHARE REPURCHASES OF UP TO $850M BB&T: RECOMMENDATION OF UP TO $1.88B IN SHARE BUYBACK BANK OF NEW YORK MELLON TO BUY BACK UP TO $2.6B SHRS DISCOVER PLANS TO BUY BACK UP TO $2.23B OF STOCK FIFTH THIRD TO BUY BACK UP TO $1.16BN OF SHARES JPMORGAN TO BUY BACK UP TO $19.4B SHRS KEYCORP TO BUY BACK UP TO $800M OF SHARES MORGAN STANLEY REPORTS SHARE BUYBACK OF UP TO $5B REGIONAL FINANCIAL PLANS UP TO 1.47BN SHARE BUYBACK STATE STREET TO BUY BACK SHARES UP TO $1.4B WELLS FARGO PLAN INCL UP TO $11.5B SHARE BUYBACK FOR 4 QTRS And divdends: ALLY BOOSTS QTR DIV TO 12C-SHR FROM 8C, EST. 10C AMERICAN EXPRESS TO BOOST QTR DIV TO 35C/SHR FROM 32C, EST. 35C BK PLANS BOOSTS OF QTR DIV TO 24C/SHR FROM 19C, EST. 22C DISCOVER PLANS TO BOOST QTR DIV TO 35C/SHR FROM 30C, EST. 34C FIFTH THIRD BOOSTS QTR DIV TO 16C FROM 14C, AND TO 18X IN Q2 2018 JPMORGAN BOOSTS DIV TO 56C/SHR KEYCORP TO CONSIDER DIV BOOST UP TO 12C/SHR FOR 2Q OF 2018 REGIONAL FINANCIAL BOOSTS QTR DIV TO 9C/SHR FROM 7C/SHR STATE STREET BOOSTS QTR DIV TO 42C/SHR FROM 38C, EST. 40C WELLS FARGO SEES BOOST TO 3Q DIV TO 39C/SHR FROM 38C, EST. 38C