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Nation's largest banks all pass Federal Reserve 'stress tests'
Los Angeles Times: The U.S.’ largest financial institutions have enough armor to withstand the turmoil of a major and prolonged U.S. and global recession, the Federal Reserve said Thursday.
The annual “stress tests” show that the 33 largest financial institutions, including JPMorgan Chase, Citigroup, Bank of America and Wells Fargo, all hold more capital than they did the year before. They also hold enough capital that, even if faced with billions of dollars in losses from loans as a result of an economic crisis, they would continue to function
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