The Annual Capital Plan Disclosure
Across 1 sector, 2 filers are discussing capital deployment. Visible since 2025Q4, recently quiet. Primarily a capital story (50%), with a regulatory overlay (50%). Forward-leaning — companies are guiding to this, not just explaining the past. One disclosure notes "On an annual basis, we submit a Board of Directors of Group Inc. (Board) approved capital plan to the FRB."
Large banks submit Board-approved capital plans to the Federal Reserve on an annual basis, with supervisory review and stress-test results disclosed on regulatory timelines.
DISTINCT NEW FILERS PER QUARTER
✦ WHAT THE DIFF CAUGHT
BAC frames submission as prospective (2026 plan, results by June 30), while GS frames it as routine annual practice; both describe the same regulatory ritual.
REPRESENTATIVE SIGNAL FROM FILINGS
“On an annual basis, we submit a Board of Directors of Group Inc. (Board) approved capital plan to the FRB”
The company submits a Board-approved capital plan to the FRB annually that includes quarterly share repurchase plans.
“submitted our 2026 CCAR capital plan; results by June 30, 2026”
The Corporation submitted its 2026 CCAR capital plan and expects supervisory stress test results disclosure by June 30, 2026.
DRIVERS