The Federal Reserve announced Wednesday the results of its Comprehensive Capital Analysis and Review, or Stress Test, now in its 7th year. 34 banks participated with near unanimous results…
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Less Directive to Bank Boards as the Fed Steps Back
On Thursday, Federal Reserve Governor Jerome Powell went on record saying the Fed plans on reviewing some of what he believes are the more outdated rules mandated by the Dodd-Frank act. Banks’ board of directors could see a relief of some of the day to day responsibilities and concentrate more on big picture if Powell is successful. Banks may also see more transparency in the CCAR, something a majority of the industry has been requesting for years.
Read More »Fed Asks Morgan Stanley to Resubmit Capital Plan
The Fed did not object to Morgan Stanley’s capital plan, but the firm is required to submit a new plan by December 29, 2016, in order to address weaknesses found in its capital planning process.
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