Washington, D.C. – The Bank Policy Institute and American Bankers Association issued the following statement today in response to the Federal Reserve’s final stress testing rules:
“Transparency and public input have produced a better stress testing framework that should improve accuracy and allow more thoughtful capital planning at covered banks, with economic benefits to the country.
“The Fed’s decision to re-propose certain pre-provision net revenue models is an example of how opening the process to public comment – as required by the Administrative Procedure Act – is driving better policy. We appreciate that the Fed is taking the time and using an appropriate process to fix flaws in those models identified in the recent comment process.”
To learn more about why stress tests matter, click here.
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About Bank Policy Institute
The Bank Policy Institute is a nonpartisan public policy, research and advocacy group that represents universal banks, regional banks and the major foreign banks doing business in the United States. The Institute produces academic research and analysis on regulatory and monetary policy topics, analyzes and comments on proposed regulations, and represents the financial services industry with respect to cybersecurity, fraud and other information security issues.
About the American Bankers Association
The American Bankers Association is the voice of the nation’s $26.5 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.7 trillion in deposits and extend $13.9 trillion in loans.
Media Contacts
Tara Payne
Bank Policy Institute
tara.payne@bpi.com
Josh Britton
American Bankers Association
jbritton@aba.com
