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Inside Washington (06/09/2011)
* WASHINGTON (6/10/11)--A speech last week by Federal Reserve Board Gov. Dan Tarullo has created fear among the largest banks that they may have to hold more capital than previously expected. At issue is a proposed capital surcharge for significantly important financial institutions (American Banker June 8). Under proposed Basel III requirements, all banks would have to hold 4.5% of common equity by 2015, and a 2.5% conservation buffer starting in 2019. Tarullo speculated that regulators could require banks to hold as much as 1.5% to 7% capital on top of the proposed Basel III capital requirements, creating a maximum capital requirement of 14% for the largest banks. Tarullo’s comments created unease among investors causing stock prices to drop at several banks ... * WASHINGTON (6/10/11)--The Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation have released proposed guidance for stress-testing practices at banks with assets of more than $10 billion. The agencies issued the proposal to emphasize the importance of stress testing for banks to assess the risks they face and potential adverse outcomes. Building on previously issued supervisory guidance that discusses the uses and merits of stress testing in risk management, the proposal provides an overview of how an organization should develop a structure for stress testing. The guidance outlines general principles for a stress testing framework and describes how it should be used at various levels within an organization. The guidance also discusses the importance of stress testing in capital and liquidity planning, and the importance of strong internal governance and controls in an effective stress-testing framework. The agencies request comment on the proposal by July 29 ...


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