The banks undergoing the seventh annual checkup included JPMorgan Chase & Co., Bank of America, Citigroup and Wells Fargo – the four biggest U.S. banks by assets.
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All of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and keep lending, the Federal Reserve said Thursday.The banks undergoing the seventh annual checkup included JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo and Co. – the four biggest U.S. banks by assets.That's down from $526 billion in losses for 33 banks last year.Banks coming closest to not meeting the minimum ratio were Ally Financial, with a tested level of 6.5 percent; Capital One Financial, with 7.0 percent; Huntington Bancshares, 7.0 percent; KeyCorp, 6.8 percent; and SunTrust Banks, 7.1 percent.CIT was added this year to the banks tested by the Fed. They are: Ally Financial, American Express, BancWest, Bank of America, Bank of New York Mellon, BB&T, BBVA Compass, BMO Financial, Capital One, Citigroup, Citizens Financial, Comerica, Deutsche Bank, Discover, Fifth Third, Goldman Sachs, HSBC, Huntington Bancshares, JPMorgan, KeyCorp, M&T, Morgan Stanley, MUFG Americas Holdings, Northern Trust, PNC, Regions Financial, Santander Holdings, State Street, SunTrust, TD Group, U.S. Bancorp, Wells Fargo and Zions Bancorp.
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