Ally Financial and BB&T can only make capital distributions with Fed approval
Capital improvements ensure banks can continue to lend during economic difficulty
Banks to pay US$557 million to help mortgage borrowers
Banks would be required to create an intermediate holding company over their U.S. subsidiaries
Scenarios include baseline, adverse, and severely adverse
The U.S. Federal Reserve is to begin conducting supervisory stress tests this fall for 19 large bank holding companies
Bernanke cites concerns about high U.S. unemployment levels, weak economic recovery
Smaller banks may need more time to develop “high-quality stress testing programs”
Rule takes effect September 14
The Federal Reserve Bank of New York said Friday that it received reports of problems with the setting of the London Interbank Offered Rate (Libor) back in 2007, before the issue first came to public attention. The New York Fed issued a statement indicating that as part of its market surveillance efforts following the onset […]