US banks pass stress test, some with an asterisk

New York

ALL large US banks passed the annual regulatory test that aims to assess whether they can make it through a financial and economic calamity but the Bank of America passed only provisionally and could still fail later this year if it does not fix deficiencies that the Federal Reserve identified, the central bank said on Wednesday.

Goldman Sachs, JPMorgan Chase and Morgan Stanley, which dominate Wall Street, each had to alter their planned payouts to investors to achieve passing grades.