31 largest US banks passed Federal Reserve's annual stress tests, withstanding a severe recession scenario.
31 largest US banks passed the Federal Reserve's annual stress tests, maintaining minimum capital requirements and showing their ability to survive a severe recession scenario. The tests assessed how the banks would fare in a global recession, a 40% decline in commercial real estate, a 36% fall in house prices, and a 10% unemployment rate. All banks sustained a loss of $685bn, up from $541bn last year, while keeping their Common Equity Tier 1 (CET1) capital ratios above the 4.5% minimum requirement.
June 26, 2024
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