All but 4 banks pass stress test

| Print |  Email
Must Reads
Wednesday, March 14, 2012

All but four of the 19 major U.S. banks are strong enough to survive another serious recession, according to the Federal Reserve.

J.P. Morgan, Wells Fargo and other large bank holding companies that passed the Fed’s so-called stress tests announced that they would return capital to share­holders, igniting a late-day rally on Wall Street. The Dow Jones industrial average rose 218 points and closed at its highest level since the end of 2007.
“It’s clearly good news — the U.S. banking system can now withstand a quite severe recession without falling over,” said Douglas Elliott, a fellow at the Brookings Institution, a nonpartisan policy think tank.
One notable exception was Citigroup, the nation’s third-largest bank. It was among the companies the Fed said lacked enough capital to withstand another severe economic and financial crisis. Its stock price fell 4 percent in after-hours trading. The Fed announced the results after markets had closed.

Read more at The Register-Guard.

{biztweet}bank{/biztweet}

 

More Articles

Oregon Business expands events portfolio

The Latest
Friday, March 27, 2015
htctfacebookBY OB STAFF

New events series brings magazine to life.


Read more...

5 questions about the FLIR FX

The Latest
Wednesday, April 08, 2015
FLIR-FX-IndoorBY JACOB PALMER | DIGITAL NEWS EDITOR

The Wilsonville-based company is targeting GoPro enthusiasts with its latest release. Is spy gear poised to go mainstream?


Read more...

Are wolves good for business?

Contributed Blogs
Friday, March 06, 2015
030615-wolf-thumbBY JEFF DELKIN | OP-ED CONTRIBUTOR

As a local business owner, I believe it’s important to build our economy on a platform of conservation values.  


Read more...

Letting Go

April 2015
Friday, March 27, 2015
BY AMY MILSHTEIN

As baby boomers sell their businesses, too many forget the all-important succession plan.


Read more...

10 Oregon companies positioning themselves for growth

The Latest
Friday, March 13, 2015
vcthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Ten startups have secured venture capital, angel or seed funding in 2015.


Read more...

Get on the bus!

April 2015
Thursday, March 19, 2015
BY APRIL STREETER

How the private sector can ride the next transit revolution.


Read more...

Courtside

April 2015
Thursday, March 26, 2015
BY JACOB PALMER

Power lunching at the Court Street Dairy Lunch in Salem.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS