Flash back to your days in school and the stressful day that report cards were handed out and you will get a sense of what top bank executives were going through on March 26.
On that day, the Federal Reserve announced the results of its annual stress tests, which assess the financial health of the nation’s largest banks. Just like on report card day, recipients of passing grades were left smiling, while other were left to contemplate the implications of a failing grade. Among the banks that failed the test are Citigroup, HSBC North America Holdings, RBS Citizens Financial Group, and Santander Holdings. The Fed also rejected the capital plan from Zions Bancorp because it did not meet minimum post-stress capital requirements.
