17 of 18 biggest financial companies pass "stress test"

The central bank said yesterday, after results of its "stress test," that the financial system is better prepared to weather a shock. "The results of the Federal Reserve stress test reaffirm our position that retail banks are in a significantly better position today than in the past two decades," said Richard Hunt, CBA president and CEO. "The capital increases over the past few years are not temporary, but permanent changes in our industry." Ally Financial is the only bank that did not meet the Fed's standards.

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