Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
The Federal Reserve announced on June 24 that the 23 large financial companies that underwent special stress testing all met regulatory standards.
Randal Quarles, vice-chair for supervision, said the Fed was satisfied with the results across three scenarios. “All [the tests] have confirmed that the banking system is strongly positioned to support the ongoing recovery,” Quarles added.
Each stress test covers a nine-quarter period. In the worst-case scenario (the ‘severely adverse scenario’)
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