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VOL. 128 | NO. 162 | Tuesday, August 20, 2013

Fed Says Big Banks Must Improve Financial Cushions

MARTIN CRUTSINGER | AP Economics Writer

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WASHINGTON (AP) – The Federal Reserve says the nation's largest banks need to do a better job of determining how much capital they need to cushion against a future crisis.

The Fed says a study shows that banks have made progress in preparing for stresses like those brought by the 2008 financial crisis. But it says banks must go further by accounting for specific risks that relate to their business activities.

The Fed has been conducting annual stress tests on the biggest banks since 2009. The next round will include the 18 largest banks and an additional 12 firms that will participate for the first time next year.

The report comes as President Barack Obama is meeting with banking regulators for a status report as the five-year anniversary of the financial crisis approaches.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 54 266 12,031
MORTGAGES 111 406 15,756
FORECLOSURE NOTICES 27 107 3,130
BUILDING PERMITS 0 606 28,832
BANKRUPTCIES 73 364 11,671
BUSINESS LICENSES 17 119 4,274
UTILITY CONNECTIONS 121 549 17,732
MARRIAGE LICENSES 23 104 3,668

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