News Snapshot:
4. Crypto Banks A lot of the major US banks celebrated stress test results with a strong boost with their respective dividends. Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), and Wells Fargo (NYSE:WFC) raised their dividends, while JPMorgan (NYSE:JPM) and Citigroup (NYSE:C) kept their dividends unchanged. Given the uncertain economic environment, you can’t blame the decision to refrain from boosting payouts as a severe slowdown with economic activity could lead to the need for additional capital. JPMorgan and Citigroup might need to free up some cash later this year for the new required capital levels, which...
