Bank 'Stress Test' Results Delayed Until May 7
The results of the government's "stress tests" of some of the nation's 19 largest banks and financial institutions, scheduled for early next week, has been pushed back to May 7, government officials tell Post reporter Binyamin Appelbaum.
The delay has been caused by haggling over the test results between the banks and the Fed.
The aim of the tests is to determine the health of the large financial institutions and determine how much more capital each needs, if any, to risk posing a threat to the system if the economy sours.
-- Frank Ahrens
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By
Frank Ahrens
|
May 1, 2009; 4:47 PM ET
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| Tags: Federal Reserve, stress test
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Posted by: writedave | May 1, 2009 6:24 PM | Report abuse
How can the banks haggle over the results when the recent change in FASB accounting rules has given them the opportunity of turning trash into cash. The results of the government's stress tests are already tainted. With property values having fallen 30% or so across the board it also defies logic how banks can be solvent when they wrote so many loans with very little equity.
Posted by: psouleles | May 2, 2009 10:36 AM | Report abuse
Any journalist following the money, should attempt to discover if the Fed is using BOA for cash payouts.
A game seems afoot.
Posted by: dottydo | May 6, 2009 2:03 AM | Report abuse
The comments to this entry are closed.
We all know the banks will get their way!
They run the white house and congress and will continue stealing from Americans to pay their own multi-million dollar salaries!
We will continue to pay high interest rates to subsidize their lifestyles.
Welcome to the NEW AMERICA!