Banks told by Fed to test for 12% unemployment

http://www.marketwatch.com/story/banks-told-by-fed-to-test-for-12-unemployment-2012-11-15?link=MW_latest_news

WASHINGTON (MarketWatch) — The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%.

The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times.