The nation’s 33 biggest banks have enough capital to withstand a severe economic contraction, the Federal Reserve said.
FILE - An American flag flies over the Federal Reserve building on May 4, 2021, in Washington. The nations 33 biggest banks have enough capital to withstand a severe economic contraction, the Federal Reserve said Thursday, June 23, 2022. In its latest annual stress tests of the U.S.
Even in with those variables, the 33 largest banks would still, on average, have a capital ratio 9.7%, well above the 4.5% required by law, the Fed said. Capital ratios are an industry measure of how strong a cushion a bank holds against unexpected losses. The Fed’s test is an academic exercise, and this examination is not predicting a recession, even though financial markets have increasingly priced in the possibility of a recession later this year as the nation’s. This test was designed before Russia invaded Ukraine and before the current period of high inflation.
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