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The Federal Reserve would pass the Fed's stress test ... according to the Fed.
That's the basic conclusion of a paper from three Federal Reserve Bank of San Francisco economists released Monday, just days after the Fed released the latest stress tests of the nation's largest commercial banks.
(Read more: Bove bullish after stress tests)
In "Stress Testing the Fed," Jens Christensen, Jose Lopez and Glenn Rudebusch conducted what they called a "probability-based stress test of the interest rate risk the Fed faces."
Their conclusions are positive for the central bank's long-term financial health.
"For example, there is only a remote chance that declines in Treasury bond prices could lead to mark-to-market losses on the Fed's portfolio. Such low probabilities for these adverse outcomes should assuage concerns about the Fed's portfolio holdings and income," they wrote.
For the full study click here.