By MyBankTracker  Updated on Fri Nov 9, 2012

Federal Reserve Announces Bank Stress Tests for 2013

The Federal Reserve announced its plans to “stress test” the nation’s biggest banks in 2013, as it did this year.

“The Federal Reserve has been focused — and will remain focused — on ensuring the nation’s largest financial institutions have enough capital to weather severe, unexpected conditions and still continue lending to households and business,” said Gov. Daniel K. Tarullo in a press statement.

The banks will get the test scenarios in November and they’ll have to submit their capital plans by Jan. 7, 2013.

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