The Board of Governors of the Federal Reserve System announced that the 31 largest US banks all passed their latest FRB-administered stress tests. These tests projected the impact on the banks’ ratio of high-quality capital to risk-weighted assets from a “severely adverse” economic scenario. Separately, the Bank for International Settlements reported that 224 of the largest international banks now all meet its newest risk-based minimum capital requirements (the so-called Basel III requirements).