The Federal Reserve is barring Citigroup and four other big banks from increasing their dividends or buying back their own stock because they need better plans for coping with a severe recession. Here’s a look at the banks whose plans were rejected by the Federal Reserve on Wednesday:
Citigroup, based in New York
Assets: $1.88 trillion
Deposits: $968.27 billion
Branches: 4,600 worldwide
HSBC North America Holdings Inc., a unit of London-based HSBC Holdings plc.
Assets: $290 billion
Deposits: $110.3 billion
Branches: 240, mostly in New York
RBS Citizens Financial Group Inc., based in Providence, R.I.
Assets: $122.26 billion
Deposits: $92.24 billion
Santander Holdings, a unit of Spain’s Santander Group. Inc.
Assets: $77.14 billion
Deposits: $49.31 billion
Branches: 700 in the Northeast
ZionsBancorporation, based in Salt Lake City
Assets: $56 billion
Deposits: $46.36 billion
Branches: 471 branches in the West
Sources: The banks, SNL Financial.