Based on the results of the Dodd-Frank Act stress test, which were recently released by the Federal Reserve, Ohio's major deposit holders are sufficiently prepared for the following severe economic conditions: "unemployment jumps above 11 percent, housing prices plummet by a quarter and equity prices are cut in half," Columbus Business First reports. Of the 30 banks tested, only Salt Lake City-based Zions Bancorp would "have insufficient capital, under the worst circumstances, to meet the required 5 percent Tier 1 capital ratio – the percentage of a bank's capital to its risk-weighted assets" the article said. According to the results, the states seven-largest banks would maintain the following capital ratio under severe economic conditions:
- Fifth Third Bancorp, Ohio’s largest deposit holder, 8.4 percent
- Huntington Bancshares, Inc., the state's second-largest deposit holder, 7.4 percent
- U.S. Bancorp, the state's third-largest bank, 8.2 percent
- PNC Financial Services Group Inc., the state's fourth-largest bank, 9 percent
- JPMorgan Chase & Co., the state's fifth-largest bank, 6.3 percent
- KeyCorp, the state's sixth-largest bank, 9.2 percent
Fore more, read the full story and the full Dodd-Frank Act Stress Test 2014: Supervisory Stress Test Methodology and Results March 2014.