"The Federal Deposit Insurance Corp., Federal Reserve Board and Office of the Comptroller of the Currency issued near-identical final rules requiring banks and holding companies with more than $10 billion of assets to run internal stress tests annually," writes American Banker’s Joe Adler about the tests mandated by Dodd-Frank.
Banks with assets between $10 and 50 billion get the relief they were expecting: a one-year extension on compliance, which means they’ll start disclosing results in 2015.
The tests for the largest banks, with over $50 billion in assets, will be required earlier. "I believe the implementation timeline in the final rule strikes the right balance,” Comptroller Thomas Curry said.
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