John Heltman has covered the Federal Reserve and Treasury Department for American Banker since 2014. Prior to joining American Banker, he covered derivatives markets and the Commodity Futures Trading Commission for Argus Media, and prior to that covered the Environmental Protection Agency for Inside Washington Publishers. He is a 2005 graduate of St. Mary's College of Maryland.
The test showed that banks face potentially heavy losses in certain loan categories under economic stress, particularly in the area of credit cards, counterparty losses and commercial and industrial lending.
Fed Chair Janet Yellen called the Treasury's report a "complicated document" that shared many of the central bank's objectives, including reducing regulatory burden without sacrificing safety and soundness.