PNC and 22 other banks pass the stress test but more stress is coming
PNC and the rest of the nation’s biggest banks all passed the annual stress test, but that doesn’t mean there’s nothing to be stressed about.
And that’s not the hypothetical combined loss of $541 billion, or $424 billion in loan losses.
Implemented in the aftermath of the Great Recession, the test gauges whether banks are positioned to weather a severe recession with sufficient liquidity to continue to lend under extreme circumstances.
Read more at Pittsburgh Business Times.
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