US banks question stress-test discrepancies
Bank of America and Citigroup open talks with Fed about differing results
Two large US banks have contacted the Federal Reserve about discrepancies between their stress-test filings and those published last week by supervisors.
Bank of America, the country’s second-largest bank by asset size, said on July 3 it was in talks with the Fed “to understand differences in other comprehensive income… between the Federal Reserve’s CCAR [Comprehensive Capital Analysis and Review] results and Bank of America’s Dodd-Frank Act stress-test results”.
The mismatch had caused BoA to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Macro-prudential
ECB vice-president warns of US AI bubble
Now is not the time to deregulate banks, says Luis de Guindos
Finma to revise UBS’s recovery and emergency plans
Swiss regulator suspends annual plan approval because of “obstacles” created by Credit Suisse merger
Opposing Basel III is ‘short-term thinking’ – DNB’s Klaas Knot
Lenders should not ask governments to water down proposals, says Dutch central bank governor
European banks warming to AT1 – National Bank of Denmark study
Lenders that rely on additional tier 1 capital are less capitalised, says new research
Macro-pru should interact with other policies – Chile’s Costa
Governor calls for joined-up thinking as Santiago hosts FSB Americas group meeting
Lessons learned on macro-pru policies
Tools are proving their worth although use cases vary by country; role in over-arching frameworks remains a challenge
‘Unpredictable’ risk driven by AI, geopolitics – Lagarde, Buch, Rehn
European supervisors call for caution – and more authority – at ESRB annual conference
BoE calls for wider research into operational resilience
Most studies have focused on cyber attacks, though UK has been hit by varying types of incidents