Four major US banks scrape through Federal Reserve stress tests

Goldman Sachs, Morgan Stanley, JPMorgan Chase and Bank Of America fail to win central bank's unconditional approval

Four of the largest US banks just scraped through the annual Federal Reserve financial checkup, underscoring the central bank's ongoing doubts about Wall Street's resilience more than six years after the financial crisis.

Goldman Sachs Group Inc, Morgan Stanley and JPMorgan Chase & Co, all with large and risky trading operations, lowered their ambitions for dividends and share buybacks, the Fed said on Wednesday, to keep them robust enough to withstand a hypothetical financial crisis. The revised plans allowed them to pass the Fed's simulation of a severe recession.