This week we learned the outcome of the third round of bank stress tests performed since 2009 in accordance with the Dodd-Frank Act.
“Citigroup (C) outperformed all of its peers after failing the test in 2012. Last year the test results showed that a total of four banks (including Citi) would not withstand an economic shock; the other three were Ally, MetLife (MET) and SunTrust (STI).
What does this mean about the state of the U.S. banking system? William Cohan, Bloomberg TV contributing editor, and author of several books on US banks, says, “not much”.
Here is a direct link to the video interview.
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