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Banking

Fed tests US banks

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February 24, 2009 | 12:00am

MANILA, Philippines - Under the latest Treasury’s financial-rescue plan, the Federal Reserve and the Office of the Comptroller of the Currency (OCC) will have new power to put 18-20 US banks through stress tests in the coming months to determine if they have adequate capital to survive more unforeseen economic crises. Should the banks come up short, they will be ordered to raise money, accept a government cash infusion that comes with conditions, or perhaps be shut down.

 

ACCEPT

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FEDERAL RESERVE AND THE OFFICE OF THE COMPTROLLER OF THE CURRENCY
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