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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 This material may not be published, broadcast, rewritten or redistributed.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 56 308 6,247
MORTGAGES 58 345 7,437
FORECLOSURE NOTICES 42 79 1,194
BUILDING PERMITS 244 800 13,391
BANKRUPTCIES 49 202 4,549
BUSINESS LICENSES 34 120 2,482
UTILITY CONNECTIONS 31 141 2,681
MARRIAGE LICENSES 20 85 1,320

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