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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 This material may not be published, broadcast, rewritten or redistributed.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 0 269 16,682
MORTGAGES 0 313 21,745
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 0 287 15,829
BUSINESS LICENSES 0 67 5,558
UTILITY CONNECTIONS 0 413 23,986
MARRIAGE LICENSES 0 94 5,129

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