This morning the Fed reserve announced that most major US banks has successfully passed annual stress tests.
According to the report, if the US rate of unemployment reaches 13% while housing prices decline by 21%, most banks (15 out of 19) will remain stable.
In particular, JPMorgan Chase and Wells Fargo showed the best results. Therefore, they got the right to buy back their stocks and to increase the dividend yield.
In the meantime, it was discovered that the liabilities of such banks as SunTrust Banks, Ally Financial and MetLife don’t meet the requirements set by the US government.
Forex.
The FMA-SAR Department of gives the following outlook for the US index:
1. Either the mid-term downtrend will be continued, the closest levels of support are 1,3034 1,3007;
2. Or there will be a short-term rally up to 1,3077 and 1,3106.
