Top US banks fall short of Fed standards

Supervisor says bulk of outstanding problems for largest banks concern governance and controls

Sixteen of the largest US banks received less-than-satisfactory ratings from the Federal Reserve in 2019.

Of the 38 bank holding companies and foreign intermediate holding companies with over $100 billion in assets, 42% fell short of Fed standards on risk management, governance and regulatory compliance, a new report shows.

This is almost the same percentage as in 2018, though lower than the years 2014 to 2017, when the share tagged with less-than-satisfactory ratings ranged from 46% to 55%.