24
Wednesday
July 2019
3:32 AM IST
News Headlines
Sindhu looks to complete unfinished business in Japan        Griezmann says heart with Barca after ugly Atletico exit        Kotak Mahindra Bank Q1 consolidated up 23 pc; standalone net jumps 33 pc to Rs 1,360 cr        Investor wealth plummets over Rs 4 lakh cr in 3 days of market fall        China says Hong Kong protests 'absolutely intolerable'        Britain's May chairs emergency session on seized tanker        SC to hear on Aug 6 plea by Ahmed Patel against Guj HC order on his election to RS        Nadda pulls up Pragya Singh Thakur for her toilet remarks        Chandrayaan-2 illustrates India's determination to scale new frontiers of science: PM        India's second moon mission launched successfully; ISRO takes control of spacecraft        Ramya Haridas to not accept Youth Congress' car gift        ICC ran out of patience with Zimbabwe cricket: Flower        Pragya's latest: Have not become MP to clean toilets        Want to be an Indian superhero in Avengers: Taapsee Pannu        Have been able to achieve balance between commercial and parallel cinema: Sonakshi        Mahershala Ali to star in Marvel's 'Blade' reboot        Sindhu ends runner-up at Indonesian Open        UK car sector accelerates towards electric future        China importers seek to lift tariffs on US farm goods: State media        LIC offers Rs 1.25 lakh cr line of credit by 2024 to fund highway projects: Gadkari        
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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.


Kotak Mahindra Bank Q1 consolidated up 23 pc; standalone net jumps 33 pc to Rs 1,360 cr
Investor wealth plummets over Rs 4 lakh cr in 3 days of market fall
UK car sector accelerates towards electric future
China importers seek to lift tariffs on US farm goods: State media
LIC offers Rs 1.25 lakh cr line of credit by 2024 to fund highway projects: Gadkari
Air India passengers travelling to UAE can now carry 40 kgs of check-in luggage
Huawei planning major job cuts in US: WSJ
China GDP growth slows to 6.2 pc in second quarter
RBI to come out with mobile app for currency notes identification
Nine of top-10 firms lose Rs 88,609 cr in m-cap
Pak, Afghan resume transit treaty negotiations
Blunt talk needed in country today, Murthy says, cites his spat with Sikka
Gadkari appeals to MSMEs to plant trees
Infosys Q1 net grows 5.2 pc to Rs 3,802 cr; ups revenue guidance to 8.5-10%
Vistara announces international operations; to launch services to Singapore
Zomato partners with TikTok; conducts food drive in 74 cities
Sebi slaps Rs 65 lakh fine on individual for fraudulent trading
HDFC to raise up to Rs 3,000 cr via bonds to augment long-term capital
80 city-centric plans coming soon to make earth green, sky blue again: Javadekar
Parliament passes Aadhaar amendment bill
KERALA NEWS
Ramya Haridas to not accept Youth Congress' car gift
 Thiruvananthapuram: Congress MP from Alathur Ramya Haridas Sunday said she will not accept the car w  
HC pulls up Kerala govt over Munnar encroachments
Student Stabbed at University College: SFI leaders have gone absconding
Ker CM takes a dig at Congress MLAs on quitting spree
INTERNATIONAL NEWS
China says Hong Kong protests 'absolutely intolerable'
 Beijing, Jul 22 (AFP) China reacted furiously on Monday to anti-government protesters vandalising th
Britain's May chairs emergency session on seized tanker
UK finance minister says will quit if Johnson becomes PM
Netanyahu to visit India on Sep 9 to meet PM Modi
NATIONAL NEWS
SC to hear on Aug 6 plea by Ahmed Patel against Guj HC order on his election to RS
 New Delhi, Jul 22 (PTI) The Supreme Court Monday fixed August 6 for hearing the plea of senior Congr
Nadda pulls up Pragya Singh Thakur for her toilet remarks
Chandrayaan-2 illustrates India's determination to scale new frontiers of science: PM
Pragya's latest: Have not become MP to clean toilets
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