NEW YORK, Reuters Bank of America and Citigroup said on Monday they had begun a dialogue with the Federal Reserve to understand differing results between the central bank39;s stress test and the companies39; own under the DoddFrank Act.

BofA has yet to announce a potential dividend increase, in contrast with rivals. JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley hiked their thirdquarter dividends on Friday after sailing through the health check.

The Fed39;s annual test showed major lenders, including BofA, have enough capital to weather a severe economic slump, paving the way for them to issue share buybacks and dividends.

But BofA wants to understand the differences in a category called other comprehensive income during a ninequarter period measured in the test, it said in a statement.

The Federal Reserve declined to comment.

BofA39;s own analysis implied a worse result than the Fed39;s test last week, Piper Sandler analyst R. Scott Siefers said in a note published on Monday.

The discrepancy means a little more uncertainty in BAC39;s results than we would like, but hopefully no change to the end result of the bank meeting a key regulatory requirement, he wrote.

Last year, BofA raised its dividend to 22 cents, the highest level since 2008, from 21 cents in 2021.

Despite increasing its dividend, Citigroup made a similar statement to BofA on Monday about starting a dialogue with the regulator to understand differences between the stress…