Tired of overshooting, BNY Mellon revamps stress test model

BNY Mellon is recasting its stress test model to better align it with the Federal Reserve’s, in the hopes of increasing future capital distributions.

“As you look at the [stress test] results, we have been constrained by our own model for the last couple of years,” said Mike Santomassimo, chief financial officer at BNY Mellon, on the bank’s second-quarter earnings call today (July 19).

“We are reviewing our models with urgency,” he said, calling the bank’s assumptions “conservative” compared

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