Major US banks get passing grade in ‘severe recession’ stress test
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The American central bank has determined that all 23 of the country’s largest banks would be able to survive a severe recession following its “stress tests.”
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The Fed has been actively bailing out smaller banks this year through its Bank Term Funding Program (BTFP) set up in March.
More than $100 billion has already been spent propping up small and mid-sized banks on the ropes, according to the Federal Reserve data.
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