Law360, New York (November 22, 2011, 10:43 PM ET) -- The Federal Reserve on Tuesday issued new rules asking top U.S. banks to submit to capital reviews and undergo a fresh round of stress tests to determine their ability to withstand a downturn in the global economy.
The banks will have to submit annual capital plans by Jan. 9 next year to demonstrate their ability to withstand macroeconomic and financial market scenarios proposed by the Fed as part of its Comprehensive Capital Analysis and Review, the agency said in a statement.
The supervisory stress tests would...
Fed Unveils New Stress Tests For Top US Banks
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