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Federal Reserve testing more banks
(NEWSCHANNEL 3) - The Federal Reserve will test more banks next year to find out if they're strong enough to survive another financial crisis.
The Fed will expand its "stress test" to 30 banks from 18.
Under the new standards, all banks with more than 50 billion dollars in assets will be examined to make sure they have enough money to keep operating even if the economy goes through another severe downturn.