 "Biggest US banks clear first hurdle in Fed’s annual stress tests")
The 34 largest US banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday.
Although the banks, including household names like JPMorgan Chase & Co and Bank of America, would suffer $383 billion in loan losses in the Fed’s most severe scenario, their level of high-quality capital would be substantially higher than the threshold that regulators demand, and an improvement over last year’s level.
“This year’s results show that, even during a severe
Although the banks, including household names like JPMorgan Chase & Co and Bank of America, would suffer $383 billion in loan losses in the Fed’s most severe scenario, their level of high-quality capital would be substantially higher than the threshold that regulators demand, and an improvement over last year’s level.
“This year’s results show that, even during a severe
