Banks brace for qualitative objections from CCAR

Fed stress tests tilt towards data, governance, internal controls and modelling techniques

stress testing
CCAR is the US banking stress test regime

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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