U.S. Banks Pass Stress Tests, but Not Without Some Check Marks

The New York Times: All the large United States banks passed an annual regulatory test that aims to assess whether they can make it through a financial and economic calamity, the Federal Reserve said on Wednesday.

But Bank of America, the nation’s second-largest bank, passed only provisionally and could still fail later this year if it does not fix deficiencies that the Fed identified. Goldman Sachs, JPMorgan Chase and Morgan Stanley, which dominate Wall Street, each had to alter their planned payouts to shareholders to achieve passing grades.

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