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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.
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Posted In: News
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