Banks stocks rise after hours as Fed sets date to lift buyback, dividend restrictions


Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020.

Susan Walsh | Reuters

Bank stocks rose in extended trading on Thursday after the Federal Reserve announced its plan for lifting restrictions on dividends and buybacks from financial companies.

Shares of JPMorgan Chase rose 1%, while those for Citigroup and Wells Fargo each added 0.7%. Goldman Sachs climbed 0.5%.

The Fed said it would keep its pandemic-era restrictions on banks in place until June 30. The Fed had previously said that banks could restart their buybacks and dividend hikes in the first quarter, so…


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