According to Bloomberg, BB&T Corp. (BBT) finally made the cut and won the Federal Reserve’s approval for a new 2013 capital plan after its original proposal was rejected.
BB&T, led by CEO 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.
