US banks shrug off turmoil to ace Fed's annual health checks

— Bloomberg

WASHINGTON: Big U.S. banks sailed through the Federal Reserve's annual health check on Wednesday, in a vote of confidence for a sector still recovering from turmoil earlier this year and facing an uncertain economic outlook.

The Fed's "stress test" exercise showed lenders, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Morgan Stanley and Goldman Sachs, have enough capital to weather a severe economic slump, paving the way for them to issue share buybacks and dividends.