Major U.S. banks pass Fed's health test

NEW YORK: The biggest U.S. banks have enough capital to withstand a severe economic downturn, the Federal Reserve said on Thursday, with all but one passing the annual health check of the financial sector.

Banks' efforts to boost their capital since the 2007-2009 U.S. financial crisis helped all 18 participating lenders except Ally Financial meet the minimum hurdle of a 5 percent capital buffer in the Fed's "stress test."