Hunger Games Stress Test
After looking at the additional requirements that the United States Federal Reserve is requiring of some of the country’s 30 largest banks and financial services companies for their annual stress test, it does not look to good for some of these institutions, this year the test is suppose to be harder. The new questions concern their exposure to Asia, and what could these institutions look like if something bad were to happen to the Asian economies (really it China, but we do not want to so direct).
The Federal Reserve announced that it will conduct some of the test on own on the 19 largest, but that is really a falsehood, in that they will really only perform the tests themselves on the top eight, the other 11 of this group will test themselves and submit the result to the Federal Reserve. Maybe there is a question as to the rigor that some of the organizations applied to themselves in the last round of testing.
Those chosen for special consideration in order of Total Assets are (1) JP Morgan Chase & Co., (2) Bank of America Corp., (3) Citigroup Inc., (4) Wells Fargo & Co., (5) The Goldman Sachs Group Inc., (6) MetLife, Inc., (7) Morgan Stanley, and (8) US Bancorp.
The rest of the 19 financial institution in order of Total Assets are, (9) Bank of New York Mellon Corp., (11) Capital One Financial, (12) The PNC Financial Services Group Inc., (14) State Street Corp., (15) Ally Financial Inc., (16) BB&T Corp, (17) SunTrust Banks, (19) American Express Company, (22) Regions Financial Corp., (24) Fifth Third Bancorp, and (29) Keycorp.
Rounding out the collection of the top 30 banks and financial institutions that are subject to this annual testing again in order of Total Assets are, (10) HSBC North America Holdings Inc., (21) RBS Citizens Financial Group, AKA Citizens Financial Group, (26) BMO Financial Corp., (27) Northern Trust Corp., (28) UnionBanCal Corp., (31) M&T Bank Corp., (33) Discover Financial Services, (35) BBVA USA Bancshares Inc., (36) Comerica Inc., (37) Huntington Bancshares Inc., and (38) Zions Bancorporation.
The Federal Reserve has this nice little web site that displays the ranking of the top 50 Holding Companies in the United States.
For those who are interested in the particular of the skull numbing tests I direct you to the following link.
Enjoy they are the attachments at the bottom of the page. It only took about 10 minutes for my skull to lose feeling.
Release the Kraken (Where is Liam Nesson when you really need him, Ben Bernanke just does not have the voice to pull this off), and to all thirty of the participant in the 2013
Hunger Games Stress Test “Happy Hunger Games Stress Test!
And may the odds be ever in your favor!”
Let the games begin.