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Wednesday, September 5, 2012

ABA Expresses Concerns with Capital Assessments & Stress Testing Information Collection

ABA, with the Clearing House and the Financial Services Roundtable, filled a joint comment letter to the Federal Reserve regarding the proposed revisions to the Federal Reserve’s report Capital Assessments and Stress Testing Information Collection.

The associations expressed concern with certain aspects of the report including: the appropriate set of rules that should be used for Basel III projections for the upcoming Comprehensive Capital Analysis and Review (CCAR 2013), the new chief financial officer attestation requirement, confidentiality and legal reserves.

In addition, the associations noted in order to permit organizations to provide accurate and meaningful data submissions, there are areas where additional clarification would be helpful.

Read the full joint comment letter.

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