TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Rule subjects 100 more banks to stress tests

By The Associated Press
Wednesday, Oct. 10, 2012, 12:01 a.m.
 

About 100 medium-sized banks will have to show how prepared they are to withstand a financial crisis next year, under a rule adopted Tuesday.

The Federal Deposit Insurance Corp. voted to require banks with $10 billion to $50 billion in assets to conduct yearly stress tests to assess their ability to withstand possible worsening economic conditions. The requirement is mandated by the 2010 financial overhaul law.

Two other regulatory agencies are expected to adopt the requirement. It takes effect in October 2013 and will affect about about 1.3 percent of all banks.

The 19 largest banks undergo annual stress tests conducted by the Federal Reserve.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Cranberry-based Prodigo Solutions: Hospitals can reduce high supply costs
  2. NHTSA probes sudden acceleration complaints in Toyota Corollas
  3. Consumer spending climbs as job gains boost incomes
  4. With acquisition, PNC set to enter IPO market
  5. Another card system hack at Supervalu, Albertsons
  6. Stocks decline on overseas political troubles
  7. State cites Patriot Coal in W.Va. mine accident
  8. Columbia Gas parent to spin off pipeline operations
  9. Jobless baby boomers struggle to get back in game
  10. Study: Wellness programs don't save money, but employee health improves
  11. Treasury’s clampdown on tax inversions takes bite out of share prices
Subscribe today! Click here for our subscription offers.