Goldman banker calls for greater CCAR flexibility
Exec says share buybacks should have been permitted for stronger lenders during Covid freeze
The US Federal Reserve’s hardline stance on stress testing during the Covid-19 pandemic – when the watchdog insisted on ploughing ahead with its scheduled annual capital review even as other prudential regulators suspended their own exercises – has come in for criticism from a senior Goldman Sachs banker.
“The CCAR programme as it is today is akin to the military industrial complex. We need to balance that with something that’s a little more flexible,” Brian Doyle, a managing director in charge
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