The New York TImes is reporting that the Federal Reserve has confirmed mistakes were made while scoring the bank stress test for Citigroup.
From the NYT's Peter Eavis:
In the original test results, the Fed projected losses on Citigroup’s first-lien home loans that would be equivalent to 9.7 percent of its total mortgages. But the Fed now says that the loss rate is 9.3 percent.
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