Bloomberg News

BB&T Wins Federal Reserve Approval for New 2013 Capital Plan

August 23, 2013

BB&T Corp. (BBT:US), North Carolina’s second-biggest bank, won the Federal Reserve’s approval for a new 2013 capital plan after its original proposal was rejected, the Fed said in a statement today.

BB&T’s initial capital plan was rejected in March based on a qualitative assessment, the central bank said at the time. The Fed’s statement today didn’t provide any information on how the new plan differed from the earlier one.

BB&T, led by Chief Executive Officer Kelly King, 64, said on March 4 that it had reevaluated how to calculate risk-weighted assets and determined changes were needed to meet regulatory guidance, the Fed said when it rejected the plan on March 14. The adjustments increased those assets and triggered a drop in BB&T’s risk-based capital ratios, according to the Fed.

The Winston-Salem-based bank’s shares have climbed (BBT:US) 23 percent this year through yesterday, compared with a 27 percent jump in the 24-company KBW Bank Index.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; Christine Harper at charper@bloomberg.net


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  • BBT
    (BB&T Corp)
    • $38.52 USD
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