Bank of America to get stress test verdict just before Brexit vote

New York

FEW banks face as much pressure as Bank of America Corp will on Thursday, when the Federal Reserve posts initial results from annual stress tests just 30 minutes before UK polls close on the so-called Brexit vote.

Passing the central bank's exams this year would let Bank of America boost shareholder payouts 63 per cent, more dramatically than its major rivals, according to analysts, who project that the firm could disburse US$9.1 billion through dividends and stock buybacks in the coming four quarters. Failing would frustrate shareholders after the firm stumbled in the past two exams, hurting investor returns and damaging management's credibility.