Banks, regulators clash over stress-testing
OCC and NY Fed officials defend regulatory stress tests despite criticism from bankers
A pair of senior US regulators have rebuffed calls to scale back regulatory stress testing in the face of complaints about the burden the tests place on smaller banks.
At the Risk USA conference in New York on October 25, John Ikard, former chief executive of First Bank and a former chairman of the American Bankers Association, praised US Treasury secretary Steven Mnuchin’s efforts to ease the burden of the US stress-testing regime.
First Bank is subject to the Dodd-Frank Act Stress Test
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