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Response to Tansy_Gold (Original post)

Mon Apr 8, 2013, 09:16 PM

2. Bernanke: U.S. banks are stronger now SURE THEY ARE! AND I AM QUEEN OF ROUMANIA

http://www.marketwatch.com/story/bernanke-us-banks-are-stronger-now-2013-04-08?siteid=YAHOOB

U.S. banks are stronger than they were a few years ago, thanks in part to government stress tests, Federal Reserve Chairman Ben Bernanke said Monday.
“The resilience of the U.S. banking system has greatly improved since , and the more intensive use and greater sophistication of supervisory stress testing ... deserve some credit for that improvement,” Bernanke said in a speech to the Atlanta Federal Reserve’s annual financial-market conference in Stone Mountain, GA.Bernanke said that the decision to launch stress tests in 2009 was one of the “critical turning points in the financial crisis.”

“It provided anxious investors with something they craved: credible information about prospective losses at banks,” he said.


In the first stress test, 10 of the 19 large bank holding companies were required to raise equity capital by a total of $75 billion. Only 2 of 18 banks — BB&T Corp. and government-owned Ally Financial — failed the latest test, completed last month. The stress test was designed to assess whether a bank’s reserves were adequate to withstand another crisis like the credit crunch of 2008.

In his speech, Bernanke said that despite complaints from the banks, the Fed would not publish the full specifications of its model used to estimate banks’ projected revenues and losses. Banks have criticize the models as a “black box.” The Fed chairman said he was worried that revealing the model would cause banks to simply adopt that model instead of their own, making it easier to “pass” the stress test...

TEST TO FAIL...JUST LIKE EDUCATION

TIME TO GRAB YOUR MONEY, AND RUN TO A CREDIT UNION!

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Tansy_Gold Apr 2013 OP
Demeter Apr 2013 #1
LineReply Bernanke: U.S. banks are stronger now SURE THEY ARE! AND I AM QUEEN OF ROUMANIA
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