Bank Stress Test Results
The long awaited “Stress Tests” on the Bank Industry will soon be revealed. The Bank Stress Test was ordered by Obama to see if the nation’s banks of enough capital to remain stable based on a series of stress scenarios created by the Treasury Department and Federal Reserve.
According to Reuters:
The results of “stress tests” of the 19 largest U.S. banks — due at 5 p.m. EDT (2100 GMT) — are the culmination of a months-long exercise aimed at reviving the financial system and are expected to show about half the banks need more capital.
10 of the 19 largest U.S financial institutions will be required to raise a combined $75 billion in capital, as the U.S. government for the first time divided healthy banks from those that may need help to weather a worsening economy.
