All but two of the 33 financial institutions passed the final round of this year’s stress test, conducted annually to gauge how well firms would shoulder a financial crisis. This year Citibank and Bank of America passed with flying colors after having to redo their test last year. Financial Services firm Morgan Stanley passed but received a stern warning from the Fed that risk was found in their internal risk-management process and they will be required to submit a revised capital plan by year end. The big banks who passed the test also won permission from regulators to boost their dividends and buybacks, offering investors some good news after the sector got hammered during the Brexit crisis.


On Wednesday, the Financial Stability Oversight Council announced it has removed the “too-big-to-fail” designation from GE Capital after its shed billions in assets. The panel unanimously decided a collapse of GE capital, like those during the financial crisis, would no longer cause a systemic threat to the U.S financial system. The too-big-too-fail label, officially called a Systemically Important Financial Institution, comes with several requirements, including regulatory reports and capital requirements. GE Capital requested the designation be removed three months ago after the company’s closed deals around $156 billion in assets.


Asia: Asian markets closed mixed as the global rally seems to be losing some steam.

Europe: Stocks soared on Wednesday as global markets realized any status changes after the Brexit vote are off in the distant future.

U.S: U.S markets rallied for a second day as worries over the U.K vote continued to ease. DJIA: +284.96 17694.68 S&P: +345.68 2070.77 NASDAQ: +87.38 4779.25

Word of The Day:


The highest possible rating assigned to bond issuer by credit rating agencies. It signifies the issues has an exceptional degree of creditworthiness and can easily meet its financial commitments.

Diner or Drink:

Cava Sangria


8 large mint leaves

1 (750-milliter) bottle Cava sparkling wine, chilled*

3/4 cup white grape juice, chilled

1/2 cup sliced fresh strawberries

1/4 cup orange liqueur

Garnish: fresh sugar cane sticks


1. Press mint leaves against sides of a large pitcher with back of a wooden spoon to release flavors. Stir in sparkling wine and next 3 ingredients. Serve immediately over ice. Garnish, if desired.

*Other sparkling wine or Champagne may be substituted.

Note: We tested with Cointreau and Grand Marnier orange liqueurs.

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