Federal Reserve testing region’s biggest banks
The Federal Reserve will be grading exam papers from the region’s biggest banks. Four of the five banks with the largest presence in the Philadelphia region are reporting for the Fed’s “stress tests.” Those financial institutions include Bank of America and PNC.
The Federal Reserve instituted the tests after the financial crisis. This year, they promise to be extra stressful. We look at why that may not be a bad thing.
The Philadelphia Business Journal has a list of the biggest banks.
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