Regulators have told the Wall St Journal that they will publish full results next year of a bruising "stress test" of the biggest U.S. banks, in a bid to reassure investors about the health of the financial system at a time of intense market uncertainty.
The six largest banks in the U.S. will be asked to gauge losses from a "hypothetical global market shock" related to the turmoil in Europe, the Federal Reserve said Tuesday. The Fed said that test "will be based on market price movements seen during the second half of 2008," when financial markets froze following the bankruptcy of Lehman Brothers Holdings Inc.
The guidelines will apply to six giants: Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Morgan Stanley and Wells Fargo & Co…
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