News & Analysis as of

CCAR

Orrick's Financial Industry Week In Review

Federal Reserve and FDIC Post Resolution Plans for Eight Major Financial Firms - On July 5, 2017, the Federal Reserve Board (the "Board") and the Federal Deposit Insurance Corporation ("FDIC") posted the public portions of...more

Federal Reserve Releases Results of CCAR

On June 28, 2017, the Federal Reserve Board announced that it has completed its annual review of the capital planning processes and capital adequacy of the largest U.S.-based bank holding companies and did not object to the...more

Federal Reserve Board Releases Results of Supervisory Bank Stress Tests

On June 22, 2017, the Federal Reserve Board released the results of its annual supervisory stress tests conducted on 34 bank holding companies. According to the results, the nation’s largest bank holding companies have strong...more

Treasury Department Issues Long Awaited Report on Regulatory Reform for the Financial Services Industry

by Clark Hill PLC on

Pursuant to Executive Order 13772, issued February 3, 2017, the Department of Treasury has issued a report, A Financial System that Creates Economic Opportunities for Banks and Credit Unions (the "Report"), which sets forth...more

US House of Representatives Approves the Financial Choice Act

On June 8, the U.S. House of Representatives voted to approve the Financial CHOICE Act (FCA) primarily along party lines, 233-186. The FCA was introduced by Rep. Jeb Hensarling of Texas, and co-sponsored by 40 of his...more

US Federal Reserve Board Will Not Object to Resubmitted Capital Plan from Morgan Stanley

by Shearman & Sterling LLP on

The US Federal Reserve Board announced that it will not object to a resubmitted capital plan from Morgan Stanley given the progress made by the firm in addressing deficiencies identified by the Federal Reserve Board in last...more

US Board of Governors of the Federal Reserve System Releases CCAR Stress Test Scenarios for 2017

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System released the scenarios to be used by banks and supervisors for the 2017 Comprehensive Capital Analysis and Review and stress test exercises (DFAST) mandated by the...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Financial Services Weekly News - February 2017 #2

by Goodwin on

Editor's Note - No Short-Term Fixes. On February 3, President Trump signed an Executive Order and a Presidential Memorandum intended to provide a framework to “roll back” the Dodd-Frank Act (Dodd-Frank) and to review the...more

Final Rule Revising the Capital Plan and Stress Test Rules

On January 31, 2017, the Federal Reserve Board (the “Board“) adopted a final rule that revises the capital plan and stress test rules for (i) bank holding companies with $50 billion or more in total consolidated assets and...more

Tailoring More Stringent Prudential Standards Under Section 165 of Dodd-Frank: Fed Finalizes Stress Test Relief for Large and...

by Morrison & Foerster LLP on

On January 30, 2017, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) adopted a final rule (the “Final CCAR Rule”) that revises the capital plan and stress test rules under the Dodd-Frank Wall...more

US Board of Governors of the Federal Reserve System Releases Proposed Rule to Modify Capital Plan and Stress Testing Rules

by Shearman & Sterling LLP on

The US BoG of the Federal Reserve System issued a proposed rule modifying the capital plan and stress testing rules for the 2017 test cycle. The proposed changes include eliminating the qualitative portion of Comprehensive...more

The Fed Revisits CCAR and Proposes CCAR Relief for Large Noncomplex Firms

by Morrison & Foerster LLP on

One of the notable financial regulatory tools that resulted from the post-financial crisis prudential regulations is stress testing. The Board of Governors of the Federal Reserve System (the “Federal Reserve”) has the...more

US Board of Governors of the Federal Reserve System Announces Date of Release for Results of Supervisory Stress Tests and the...

by Shearman & Sterling LLP on

The Federal Reserve Board announced that it would release results from the latest supervisory stress tests on Thursday, June 23, 2016. Results from the Comprehensive Capital Analysis and Review will be released on Wednesday,...more

US Office of Financial Research Publishes Working Paper on the Impact of Counterpart Defaults on the Banking System

by Shearman & Sterling LLP on

The US Office of Financial Research (OFR) published a working paper using data on the credit default swap (CDS) market to assess the impact of a counterparty default on banks and the financial system as a whole. Using data...more

US Board of Governors of the Federal Reserve System Notifies Firms of Enhancements to Federal Reserve Models Used to Estimate...

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System sent a letter to firms participating in the upcoming Dodd-Frank Act Stress Test (DFAST) and Comprehensive Capital Analysis Review (CCAR) notifying them of certain...more

Federal Reserve Releases CCAR Scenarios; Banking Agencies Release Annual Company-Run Stress Test Scenarios

by Locke Lord LLP on

On January 28, 2016, the Federal Reserve released its supervisory scenarios for the 2016 Comprehensive Capital Analysis and Review (CCAR) and for the Dodd-Frank Act stress tests. In 2016, CCAR includes 33 firms with $50...more

FRB Governor Tarullo Offers Retrospective and Perspective on Supervisory Stress Testing

by Goodwin on

In remarks delivered to the FRB’s Third Annual Stress Test Modeling Symposium FRB Governor Daniel K. Tarullo focused on the “qualitative assessment of [large] firms’ capital planning processes” that the FRB conducts “in...more

Federal Reserve Issues Paper on Capital Planning and Rule for Assessments for Large Banks

On August 19, one day before issuing its notice of proposed rulemaking on bolstering leverage ratio standards (as discussed above in “Agencies Seek to Bolster Leverage Ratio Standards for Largest Banks”), the Board of...more

Federal Reserve Announces Dates for Release of Stress Test and CCAR Results

The Federal Reserve Board on January 28 announced that results from the supervisory stress tests conducted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act will be released on Thursday, March 7, and...more

Fed Announces Release Dates for Results of Supervisory Stress Tests and CCAR

On January 28, the Fed announced that results from the supervisory stress tests under the Dodd-Frank Act will be released on March 7, and the related results from the Comprehensive Capital Analysis and Review (CCAR) will be...more

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