June 10, 2011 / 8:46 PM / 7 years ago

FACTBOX-Fed proposes U.S. bank stress test expansion

 CHARLOTTE, N.C./WASHINGTON, June 10 (Reuters) - More than a dozen U.S. banks would be added to the Federal Reserve’s annual capital stress tests, under a proposal announced on Friday by the central bank and industry regulator.
 Under the proposal, all U.S. banks with more than $50 billion in U.S. assets would be subject to an annual review of their capital position and ability to weather economic shocks and losses. [ID:N10212004]
 In March, the Fed completed its second round of stress testing for the largest 19 U.S. banks that were first tested in the wake of the 2008 financial crisis.
 The expanded list, based on Fed data through March 31, would include several prominent U.S. regional banks that were excluded from the first rounds of testing, along with domestic subsidiaries of foreign banks:
 Bank name                               Total assets
 Taunus Corp (1)                         $396.7 billion
 HSBC North America Holdings Inc (2)     $369.5 billion
 Citizens Financial Group Inc            $132 billion
 Northern Trust (NTRS.O)                 $92.6 billion
 RBC USA Holdco Corp (3)                 $85 billion
 UnionBanCal Corp (4)                    $81 billion
 Harris Financial Corp (5)               $74 billion
 BancWest Corp (6)                       $73 billion
 M&T Bank Corp (MTB.N)                   $68 billion
 Discover Financial Services (DFS.N)     $65 billion
 BBVA USA Bancshares Inc (7)             $64 billion
 Comerica Inc (CMA.N)                    $55 billion
 Huntington Bancshares Inc (HBAN.O)      $53 billion
 CIT Group Inc (CIT.N)                   $51 billion
 Zions Bancorporation (ZION.O)           $51 billion
 Marshall & Ilsley Corp MI.N           $49.6 billion*
 *Note: Marshall & Ilsley is not above the proposed threshold, but is near the $50 billion in assets requirement.
 1) Taunus Corp is a subsidiary of Deutsche Bank AG (DBKGn.DE)
 2) HSBC North America Holdings is a subsidiary of HSBC Holdings Plc (HSBA.L)
 3) RBC USA Holdco is a subsidiary of Royal Bank of Canada (RY.TO)
 4) UnionBanCal is a subsidary of Mitsubishi UFJ Financial Group (8306.T)
 5) Harris Financial is a subsidiary of BMO Financial Group (BMO.N)
 6) BancWest is a subsidiary of BNP Paribas (BNPP.PA)
 7) BBVA USA is a subsidiary of Banco Bilbao Vizcaya Argentaria SA (BBVA.MC)
 Source: Federal Reserve data
 (Reporting by Joe Rauch and Dave Clarke)   

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