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Fed finds big US banks in solid shape; keeps dividend l

WASHINGTON (AP) The Federal Reserve said Friday that the 33 largest U.S. banks are in strong shape despite the pandemic’s economic shock. The banks have ample capital cushions girding them against unexpected losses and that will also enable them to keep lending even under the most severe straits, the central bank said. The Fed disclosed the results from a special second round of “stress tests” that it added this year because of damage to the economy from the virus outbreak. The pandemic has killed more than 300,000 Americans, closed hundreds of thousands of businesses and pushed unemployment to levels not seen since the Great Depression.

Fed finds big US banks in solid shape; keeps dividend limits

FILE - This Monday, Nov. 16, 2020 file photo shows the Federal Reserve in Washington. The Federal Reserve said Friday, Dec. 18, 2020 that the 33 largest U.S. banks are in strong shape despite the pandemic’s economic shock. (AP Photo/J. Scott Applewhite, File) Fed finds big US banks in solid shape; keeps dividend limits By Associated Press Washington, D.C. PUBLISHED 8:07 PM ET Dec. 18, 2020 SHARE WASHINGTON (AP) The Federal Reserve said Friday that the 33 largest U.S. banks are in strong shape despite the pandemic’s economic shock. The banks have ample capital cushions girding them against unexpected losses and that will also enable them to keep lending even under the most severe straits, the central bank said.

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