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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