Banks Ask Fed To Ease Stress Test Data Collection

Law360, New York (September 5, 2012, 2:22 PM EDT) -- Bank lobbying groups on Wednesday urged the Federal Reserve to use a single capital standard for when conducting stress tests and said that a requirement to list litigation reserves could be damaging to banks facing pending cases.

The American Bankers Association, the Clearing House Association LLC and the Financial Services Roundtable said that bank secrecy laws in several countries could make it difficult for banks to comply with the Fed's requirements for reporting of foreign assets as part of the Comprehensive Capital Analysis and Review....
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