By Andrew Ackerman and David Benoit
The Federal Reserve said Friday that the largest U.S. banks remain strong enough to survive the coronavirus crisis but warned that a prolonged economic downturn could saddle them with hundreds of billions of dollars in losses on soured loans.
The Fed also said it would allow the banks to restart share buybacks but that it would, at least in the first quarter, restrict the amount. It said it would continue to restrict dividend payouts.
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