WASHINGTON, Feb 21 (Reuters) - U.S. financial regulators will soon launch a series of 'stress tests' to determine which of the largest U.S. banks may need additional capital cushions in the event of a deeper recession, a person familiar with Obama administration plans said on Saturday.
The person, speaking on condition of anonymity, said if institutions were found to need additional capital, financial authorities would provide them with an 'extra cushion of support.' Banks are expected to receive additional information about the tests in the coming week from regulators.
(Reporting by David Lawder; Editing by Peter Cooney) Keywords: FINANCIAL/BANKS CAPITAL (david.lawder@thomsonreuters.com; +1 202 898 8395; Reuters Messaging: david.lawder.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The person, speaking on condition of anonymity, said if institutions were found to need additional capital, financial authorities would provide them with an 'extra cushion of support.' Banks are expected to receive additional information about the tests in the coming week from regulators.
(Reporting by David Lawder; Editing by Peter Cooney) Keywords: FINANCIAL/BANKS CAPITAL (david.lawder@thomsonreuters.com; +1 202 898 8395; Reuters Messaging: david.lawder.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.