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State Street Passes Stress Test By Wide Margin

This article is more than 10 years old.

Boston-based State Street Corp. says it is now in a position to consider repaying the federal bailout money it received through the Troubled Asset Relief Program, or TARP.

The results of the so-called stress test on the country's largest banks find State Street does not need to raise more capital. In fact, the test shows State Street has enough capital to withstand even a worse economic downturn than economists are predicting.

Overall, the Treasury Department says 10 of the 19 banks tested must raise $75 billion in extra capital by November, less than analysts had expected.

This program aired on May 7, 2009. The audio for this program is not available.

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