Fed orders banks quiet on stress test results
The Federal Reserve has reportedly instructed financial institutions to not discuss the results of “stress tests” to determine banks’ viability, according to a report.
Bloomberg News said Friday that banks are being told not to disclose the results of the tests to determine whether or not they can survive and should receive more bailout money. The government hopes to orderly reveal the results of those tests later in April.
Should the news leak, the stress test results could spur fluctuations in the stock prices of the banks.
President Obama’s economic advisers will brief him on the results of some stress tests this morning.
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