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WASHINGTON, Feb 3 (Reuters) - The Federal Reserve on Fridayasked the largest U.S. banks to measure how they would fare in aglobal recession with a high jobless rate as the central bankoutlined the terms for its 'stress test' of the largest U.S.lenders.
If banks do not prove that they can weather such a downturn,the Fed may freeze payouts to investors while the lenders boostcapital reserves.
The largest 13 lenders must report their results to the Fedby April 5 with results announced by the end of June, thecentral bank said in a statement.
Another 21 large lenders must also answer to the Fed but ona narrower set of questions. Last year, the central bank saidthose smaller lenders would be exempted from tests of internalcontrols and planning.
The 'stress tests' were conceived in the 2010 Dodd Frankreform legislation meant to prevent a future financial meltdownlike the one that followed the 2008 housing market collapse. (Reporting By Patrick Rucker; Editing by Chizu Nomiyama)
