Banks brace for qualitative objections from CCAR
Fed stress tests tilt towards data, governance, internal controls and modelling techniques
Judging by their dazzling resumes, bank risk managers have a knack for acing maths exams. That may explain why so few are sweating the quantitative portion of the US Federal Reserve Board's annual stress tests for US banks – the results of which were submitted to regulators on April 5.
This year, the Fed ramped up the difficulty with a severely adverse scenario that envisions a sharp economic downturn coupled with negative short-term interest rates. Despite this, the 33 banks participating in
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