The Federal Reserve on Thursday said a prolonged financial downturn could saddle the country’s biggest banks with approximately $700 billion in losses on soured loans and ordered them to cap dividends and suspend share buybacks to save funds.
In a worst-case circumstance, where unemployment stays high and the economy does not recuperate for a few quarters, the 33 largest U.S. banks would suffer heavy loan losses that would wear down the capital buffers implied to keep them on stable financial footing, the Fed said when it announced the …
source https://jobsearchtips.net/fed-stress-test-finds-u-s-banks-healthy-enough-to-stand-up-to-the-coronavirus-crisis/
No comments:
Post a Comment