U.S. banks say they are safer by their own measures
NEW YORK, Sept 16 (Reuters) - The biggest U.S. banks, including JPMorgan Chase & Co and Bank of America Corp, said that by their own reckoning they are better equipped to withstand global downturns now than they were in March.
The results may have been helped by the banks having built capital levels in recent months as the economy showed some signs of improvement and they earned more money.
But analysts said the results of these self-tests may be less meaningful than they appear. In many cases they are not directly comparable to the tests the banks disclosed in March, known as "stress tests," which were more closely overseen by the U.S. Federal Reserve. Banks were permitted to craft their own assumptions about what would happen in a global downturn, and their scenarios may differ from the Fed's.
"Someone could pass this and fail the stress test," said Moshe Orenbuch, a bank analyst at Credit Suisse.