Big Banks Clear Fed’s Stress Tests

The Federal Reserve determined the largest U.S. banks were healthy enough to withstand a severe economic downturn and would continue lending during a crisis, as the industry posts record profits and prepares for a wave of regulatory relief.

The Fed’s “stress test” scenario for the 35 largest bank holding companies, which hold 80% of the assets at banks operating in the U.S., found the firms were “strongly capitalized” and would retain adequate capital levels in severely adverse conditions, according to the first round of results…

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