In the past, the US Federal Reserve has relied on one thing and one thing only – size – to determine which banks faced its most bracing test of stamina: the Comprehensive Capital Analysis and Review.
This year, however, departed from the norm. On US banks, the Fed continued to judge on size, with the Crapo bill now leaving many of them below its $250 billion cut-off for CCAR. The Fed also largely erased the qualitative, or on-site inspection, portion of the test.
For foreign banks, it was a