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US Fed says banks can weather severe downturn comfortably

The Star Business LogoThe Star Business1w ago

US Fed says banks can weather severe downturn comfortably

Quick Summary

WASHINGTON: The largest U.S.banks would remain well capitalized in the event of a severe economic shock, the U.S.

Federal Reserve said on Thursday after the lenders' annual health check, paving the way for them to issue share buybacks and dividends.

The 34 banks suffered heavy losses in this year's scenario, which saw the economy contract 3.5%, driven in part by a slump in commerical real estate asset values, and the jobless rate jumping to 10%.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: Banks Banking Stress Tests Fed Economy /Business/Business News JP Morgan US

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 05:32:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 4 minutes read

Article Length: 643 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 6484

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 17 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 47m ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

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