Fed says largest banks would survive crisis, in latest tests

NEW YORK (AP) — The Federal Reserve is saying that 18 of the nation’s largest and most complex banks passed its stress tests and are strong enough to withstand a severe economic downturn.
The banks have benefited from an improving economy and have balance sheets strong enough to withstand a deep global recession and U.S. unemployment of more than 10%.
The Fed adjusts its stress tests each year, depending on the economic climate. This year the Fed tested how well the nation’s la