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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 This material may not be published, broadcast, rewritten or redistributed.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 52 136 5,209
MORTGAGES 79 182 6,891
FORECLOSURE NOTICES 13 50 1,606
BUILDING PERMITS 328 328 12,307
BANKRUPTCIES 70 175 5,475
BUSINESS LICENSES 30 58 2,119
UTILITY CONNECTIONS 85 182 7,240
MARRIAGE LICENSES 19 43 1,501

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