Banks Say Their Balance Sheets Better Able To Handle Crises

Law360, New York (September 17, 2013, 3:55 PM EDT) -- JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and other major U.S. banks said Monday they have sufficiently improved their capital levels in order to withstand a severe economic shock under stress tests they designed and performed themselves.

The Dodd-Frank Act required all bank holding companies with $50 billion or more in total consolidated assets to perform their own stress tests in addition to reviews of their capital and financial position carried out by the Federal Reserve each year.

Currently, 18 banks are expected...
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