Fed Releases Stress Test Results: Most Banks Fine, Citigroup Fails

At 4:30, the Federal Reserve released the results of its stress test. The test was based off a 50% decline in stock prices, unemployment of 13% and a decline in home prices of over 20%. The Fed stated that the majority of banks would hold up fine, but four banks failed in one or more areas: Metlife MET, Ally Financial ALLY, SunTrust STI and Citigroup C.