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PNC Financial increases its 2016 CCAR buyback plan by $300M

The board of PNC Financial Services Group Inc. increased its common share repurchase plan by $300 million for the four-quarter period ending June 30.

The increase is in addition to the buyback plan of $2.0 billion, including up to $200 million related to employee benefit plans, during this period under the company's 2016 Comprehensive Capital Analysis and Review plan.

The Board of Governors of the Federal Reserve System did not object to the increase, the release added.