15 of 19 Banks Pass Fed ‘Stress Test’, Which Four Failed?

Four large U.S. banks can’t survive another serious financial downturn. That warning, coming from the Federal Reserve.

FOX News Radio’s Jared Halpern has more from Washington:

The Fed says 15 of 19 major banks passed a so-called ‘stress test’. But four, including the nation’s third largest bank Citigroup, do not have enough capital to survive a serious financial hit.

Still, the Federal Reserve believes Citigroup, Ally, Sun Trust and Met Life are all in a much stronger position than immediately following the 2008 collapse.

The stress tests review bank balance sheets and determine if they could withstand a crisis that sends unemployment to 13%, cuts stock prices in half and drop home prices 21%.

In Washington, Jared Halpern, FOX News Radio.