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Federal Reserve: Almost All Big US Banks Could Withstand Economic Jolt

The U.S. central bank has concluded that almost all of the country's biggest banks could withstand a severe economic downturn. The Federal Reserve said that 29 of the country's 30 biggest banks -- excluding a regional bank in the western U.S. -- have enough money on hand to withstand a hypothetical deep recession. Such a downturn would include a sharp rise in unemployment, a nearly 50 percent drop in the country's major stock indexes and a steep drop in home prices. The...

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