June 28, 2017

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CCAR Results Show America’s Banks Highly Capitalized; Fed Should Modernize Review Process

Moving forward, the Federal Reserve Board should implement the Treasury Department’s recent recommendations to modernize the capital planning review process and add needed transparency and accountability measures.

CCAR Results Show America’s Banks Highly Capitalized; Fed Should Modernize Review Process
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CCAR Results Show America’s Banks Highly Capitalized; Fed Should Modernize Review Process

 

WASHINGTON – Following the release of the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) results, the Financial Services Roundtable (FSR) released the following statement:

“Today’s CCAR results show America’s banks are strong, safe, and ready to boost economic growth by deploying sidelined capital back into our communities,” said Rich Foster, FSR’s Senior Vice President and Senior Counsel for Regulatory and Legal Affairs. “Moving forward, the Federal Reserve Board should implement the Treasury Department’s recent recommendations to modernize the capital planning review process and add needed transparency and accountability measures.”

To increase transparency and accountability, FSR believes the stress test and CCAR processes should be subject to public notice & comment. Additionally, FSR believes the Fed should adopt adjustments to CCAR assumptions as outlined in Governor Powell’s recent testimony before the Senate Banking Committee.

 

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

Follow @FSR