- Fed: Banks reported higher losses than in 2023 stress test as bank balance sheets are riskier and expenses are higher.
- US Federal Reserve stress test shows large US banks are well positioned to weather severe recession and stay above minimum capital requirements.
- Fed: Thirty-one large US banks reported nearly $685 billion in losses under 2024 Fed stress test, but capital remained well above regulatory minimums.
- Fed: Bank corporate credit portfolios have become riskier as banks downgrade loans, driving higher test losses.
- Fed: Higher expenses and lower fee income also contributed to steeper stress test losses.
- Fed: Increases in bank credit card balances and higher delinquency rates drove greater hypothetical losses.
- Fed: Charles Schwab, Bank of New York Mellon, JPMorgan Chase, and Morgan Stanley among strongest performing banks.
- Fed: BMO, Citizens Financial, and HSBC saw lowest capital ratios under stress test.
- Banks permitted to report capital plans to investors beginning Friday afternoon after US market close: Fed official.
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USDJPY getting close to 161 after taking out the previous intervention highs close to 161.20. Mostly likely quite a decent amount of stops triggered as we broke to new highs helping the pair higher.
With treading on fresh ground it means intervention watch is in overdrive in markets.
It's easy to blame the move in US yields for the gain, but to be fair the USDJPY did see a bit of recent divergence from US yields from the middle of the month.
A lot of this week's moves are difficult to trust since we have month-end, quarter-end and half-year end flows to deal with.
Nonetheless, lots of eyes on Japanese officials and the USDJPY today.
This article was written by Arno V Venter at www.forexlive.com.