Wednesday, November 17, 2010
Fed orders new "stress tests" for banks
This was an interesting article that I found on yahoo, and it came in perfect timing for CP Econ, since we just finished learning about Fed. The nations largest banks like JP Moragn Chase, Bank if America, Wells Fargo etc must go under a stress test up on the by the Fed to see if the banks can handle another recession without crashing. The banks that do not pass the test will have to take steps to raise new capital to build up a cushion. The stress test must be completed by Jan, 7 2011.
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