US banks pass financial stress tests

[McFurd]

BBC - 6/21/2018 - The 35 largest banks operating in the US have enough money on hand to withstand a severe financial crisis despite rising levels of credit card debt. That was the finding of the annual "stress tests" conducted by the US central bank, the Federal Reserve. The US introduced the tests after the financial crisis to monitor financial strength in the event of a downturn. The firms reviewed account for about 80% of all bank assets in the US. The tests are intended to evaluate whether banks have enough of a financial cushion to handle a global recession.Read more @ https://www.bbc.com/news/business-44567546