This year’s stress test included JPMorgan Chase and Goldman Sachs, credit card companies including American Express and regional lenders like Truist.
The Federal Reserve said Wednesday that the biggest banks operating in the U.S. would be able to withstand a severe recession scenario.
This year's stress test included giants like JPMorgan Chase and Goldman Sachs, credit card companies including American Express and regional lenders like Truist.said Wednesday that the biggest banks operating in the U.S. would be able to withstand a severe recession scenario while maintaining their ability to lend to consumers and corporations.
The Fed's stress test is an annual ritual that forces banks to maintain adequate cushions for bad loans and dictates the size of share repurchases and dividends. This year's version included giants like "While banks are well positioned to withstand the specific hypothetical recession we tested them against, the stress test also confirmed that there are some areas to watch," Barr said."The financial system and its risks are always evolving, and we learned in the Great Recession the cost of failing to acknowledge shifting risks."
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