The Associated Press reported the Federal Reserve said the central bank will conduct a new round of stress tests in the coming weeks to determine the financial strengths of banks to withstand another recession according the second-ranking member of the Federal Reserve.
According to the AP report, the Federal Reserve oversees Wall Street’s largest banks and has performed periodic stress tests on the 19 banks it watches since 2009. Previous tests were done in 2009, late 2010 and early 2011.