22
Friday
November 2019
3:00 PM IST
News Headlines
Assembly Speaker censures four Congress MLAs for climbing on dais        Students, parents stage protest over death of girl due to snakebite in classroom        Mahinda Rajapaksa takes PM office for third time        Israel''s Netanyahu charged in corruption cases        All eyes on Shami as India in throes of making yet another cricketing history with pink ball D/N Test against Bangladesh        India Women claim 5-0 T20 series sweep over West Indies        Three Rafale jets handed over to IAF by France: Govt        Normalcy has been restored in J&K: Shah        Cabinet approves strategic disinvestment of CPSEs        Lankan Prez names elder brother Mahinda as PM after Wickremesinghe resigns        Nawaz Sharif meets medical experts for check-up in London        Germany crush Northern Ireland 6-1 in Euro 2020 qualifiers        Bring Ashwin back in limited overs cricket: Harbhajan        T''gana techie among 2 Indians arrested in Pak; missing since 2017, says family        Rajini, Haasan hint at joining hands for TN''s welfare        Opposition leader visits injured MLA at Medical College Hospital in Kerala        Helmets must for two-wheeler riders, pillions from Dec 1 : HC        Ailing former Pak PM Nawaz Sharif leaves for London for treatment        Swedish prosecutor drops Assange rape probe        Newly-elected Lankan President to visit India on Nov 29        
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Business News
US Fed says large banks prepared to withstand economic crisis
 
Washington: Major banks operating in the United States would be able to withstand a severe global economic crisis with funds to spare, the Federal Reserve said Friday.

The Fed announced the results of its annual bank stress tests, showing the 18 largest financial institutions would suffer losses but still have enough of a capital buffer to continue operating.

"The results confirm that our financial system remains resilient," Fed Vice Chairman Randal Quarles said.

During the 2008 financial crisis, the collapse of the mortgage securities market essentially froze the financial system and the US government had to spend billions to bail out banks.

Banking reform laws required the institutions to significantly increase their capital and shore up their internal risk management to avoid another government rescue.

"The nation's largest banks are significantly stronger than before the crisis and would be well-positioned to support the economy even after a severe shock," Quarles said in a statement.

The Fed subjects banks to a potential global crisis in which the US economy contracts by eight percent and unemployment jumps to 10 percent.

Credit card loans showed the highest losses under the "severely adverse scenario," followed by commercial and industrial loans, at USD 73 billion and USD 107 billion respectively, according to the report.

Those two categories amount to 44 per cent of the total estimated losses of more than USD 410 billion.

The institutions tested represent about 70 per cent of the assets held by all banks operating in the United States.

All the banks passed, including Deutsche Bank's US subsidiary which failed last year, and others that passed only conditionally.


Jio says will increase tariffs in next few weeks in compliance with rules
IT companies may shed 30,000-40,000 mid-level staff: Pai
Sensex ends 72 pts lower; Yes Bank drops 4 pc
Vodafone-Idea believes govt won't be in conflict with Supreme Court on telco relief: Brokerages
Govt considering to reintroduce restrictions on royalty payments
Anil Ambani resigns as director of Reliance Communications
Govt working on policy to push MSME exports: Gadkari
Govt mulls raising insurance cover on bank deposits to above Rs 1 lakh: FM
Current economic slowdown episodic, says N K Singh
'RBI to cut rates by 40 bps by Feb despite high inflation'
Vodafone Idea shares tumble over 21 pc; hit record low
Rupee slips below 72-mark against USD
Sensex tumbles 229 pts as weak macro data, rupee woes weigh
Hong Kong officials fine UBS for overcharging clients
ArcelorMittal to shut Saldanha plant in S Africa, 1000 workers affected
Sebi disposes of case against ABG Shipyard
I-T dept busts Rs 3,300-cr hawala racket involving infra firms
FinMin says fundamental of Indian eco robust, reforms to stimulate investments
Allahabad Bank loss widens to Rs 2,103 cr in Q2 on higher bad loans
Sensex skids from record high as Moody's cuts India credit outlook
KERALA NEWS
Assembly Speaker censures four Congress MLAs for climbing on dais
 Thiruvananthapuram: Kerala Assembly Speaker P Sreeramakrishnan on Thursday censured four Opposition  
Opposition leader visits injured MLA at Medical College Hospital in Kerala
Sabarimala temple opens for 2-month long pilgrimage season
Kerala: Mixed response to SC Sabarimala verdict
INTERNATIONAL NEWS
Mahinda Rajapaksa takes PM office for third time
 Colombo: Former president Mahinda Rajapaksa assumed the office of prime minister for the third time
Israel''s Netanyahu charged in corruption cases
Lankan Prez names elder brother Mahinda as PM after Wickremesinghe resigns
Nawaz Sharif meets medical experts for check-up in London
NATIONAL NEWS
Normalcy has been restored in J&K: Shah
 New Delhi: Asserting that the normalcy has been restored in Jammu and Kashmir, Home Minister Amit Sh
Cabinet approves strategic disinvestment of CPSEs
T''gana techie among 2 Indians arrested in Pak; missing since 2017, says family
Rajini, Haasan hint at joining hands for TN''s welfare
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