Financial and Banking News
U.S. Banks Complete Stress TestsThe majority of the largest banks will continue to have enough capital to satisfy regulators, even if they suffer a financial shock that includes unemployment hitting 13 percent and a 21 percent drop in housing prices, the Federal Reserve said on Tuesday.
Stephen Wood, Chief Market Strategist, Russell Investments, New York: "American banks are healthier and have ample capital when compared with their European counterparts. They are in better conditions than where they were four years ago. The bigger issue is how insulated American banks are to the European situation. Does this build confidence? Transparency generally builds confidence. We think this is a positive in a sense that it allows investors to assess risks better and allow for higher quality forecasts."
Date: 14.03.2012 
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