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Thursday, March 6, 2014

Regulators Finalize Stress Test Guidance for Medium-Sized Banks

The FDIC, OCC and Federal Reserve finalized guidance on stress tests for medium-sized banks as mandated by the Dodd-Frank Act. The guidance is tailored to institutions with assets between $10 billion and $50 billion. Such institutions must conduct their first stress tests by March 31.

ABA sought additional clarity on model validation and other aspects of the guidance. In response, the agencies said that a bank may use an unvalidated or partially validated model — either internally or from a third party — provided the bank continues to seek full validation, controls for risk from an unvalidated model and recognizes that such practices must be temporary. The agencies declined to recommend specific vendors.

Read the guidance.

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