20:14 • 1 year ago

Financial stress test: Mostly good news, but one bank had a major fail

good news On the occasion of a major stress test of the financial market, 15 of the 19 banks tested showed that they would hold up during a severe recession, while still paying off dividends and buying back stock.
bad news One of the banks that failed — Citigroup — screwed up so badly that they failed to meet a set of minimum standards for the stress tests. The company plans to resubmit for another test. source

Adapted from Tumblr Related Posts by Dom Claxton

ShortFormBlog is the product of Ernie Smith, Seth Millstein, Chris Tognotti, Sami Main, Scott Craft, Matthew Keys, Julius the laid-off RSS robot, awesome links from awesome sources, a hacked version of Wordpress, Tumblr's Tumblarity, the letter Q, the number 13 and a series of tubes.