U.S. Fed tells banks to still submit stress test capital plans
WASHINGTON (Reuters) - Large banks should still submit the capital plans they have drawn up for the Federal Reserve’s annual stress tests by the original April 6 deadline, the central bank said on Tuesday. In a statement, the Fed said those plans will be used to “monitor how firms are managing their capital in the current environment.”.
The supervisory adjustments from the Fed mark the latest in an ongoing effort by U.S. bank regulators to assure banks in recent days that their overarching priority is ensuring firms continue to lend through the economic downturn, and not catching firms in foot-faults. The Fed is currently scheduled to assess the capital plans for 34 large banks, with results published on June 30.