Regulators Tell Banks Not to Raise Dividends (JPM, GS)

Stability over dividends.  From the Financial Times: "US regulators have told banks not to increase dividends or buy back shares until political and economic uncertainty surrounding the industry dissipates, in a move that will delay by months the return of capital to shareholders...In a letter sent in December, officials reminded financial groups they would have to meet criteria, such as "stress-testing"their balance sheets and achieving sustainable profitability, before releasing funds to shareholders."  This applies in particular to Chase (JPM) and Goldman Sachs (GS); both firms have mentioned publicly the possibility of increasing dividends (both now below 1.0%) as they have returned to profitability.