That the banks passed the annual test is a sign that America’s banking system is resilient despite the recent crisis that led to the collapse of Silicon Valley Bank, Signature Bank and First Republic Bank.
Although the 23 banks passed the test, the Fed urges continued vigilance.
“We should remain humble about how risks may arise and continue our work to ensure that banks are resilient to a range of economic scenarios, market shocks and other stresses,” the Fed’s Michael Barr said in a statement.