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

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: