U.S. financial regulators will soon launch a series of stress tests to determine which of the largest U.S. banks may need additional capital cushions in the event of a deeper recession, a person familiar with Obama administration plans said on Saturday.

The person, speaking on condition of anonymity, said if institutions were found to need additional capital, financial authorities would provide them with an extra cushion of support. Banks are expected to receive additional information about the tests in the coming week from regulators.

(Reporting by David Lawder; Editing by Peter Cooney)