CHARLOTTE — Bank of America Corp., Truist Financial Corp. and Wells Fargo & Co. are among 32 large U.S. banks that passed the Federal Reserve’s annual stress test, confirming the institutions could absorb hundreds of billions of dollars in losses during a severe economic downturn.
The results, released June 24, show large banks are well positioned to weather a severe recession while continuing to lend to households and businesses.
Despite absorbing more than $708 billion in total loan losses under the year’s hypothetical scenario, capital declined only 1.6% points in aggregate, staying above minimum capital requirements.
Read more on CBJ’s website here.
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