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Fed Makes Changes to Stress Testing Requirements

September 26, 2016
Announcements

Fed Makes Changes to Stress Testing Requirements

Today Federal Reserve Governor Dan Tarullo announced that the Federal Reserve will no longer require financial institutions with assets of less than $250 billion to undergo the same heightened stress testing standards as the nation’s largest banks. In response, U.S. Congresswoman Joyce Beatty issued the following statement:

“Today’s announcement by the Federal Reserve regarding appropriate stress testing is all about common sense,” Beatty said. “Our country’s regional banks should not be subject to the same standards as their much larger counterparts, and I am happy to see the Federal Reserve respond accordingly.” Beatty continued, “Regional banks should be more focused on helping customers get the capital they need to start their own small business or securing a home loan to purchase their first home, not entangled in extensive and time-consuming reporting and testing requirements.”

Issues:Financial Services and Consumer Protection