Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Thursday, July 9, 2015

Simmons of Zions Bancorporation Testifies on SIFI Designation Burden

In a hearing on SIFI designations, Harris Simmons, Chairman and CEO of Zions Bancorporation, testified before the House Subcommittee on Financial institutions and Consumer Credit. Zions, the smallest of the SIFIs, has incurred $20 million in direct expenses related to Dodd Frank Act Stress Testing (DFAST) and Comprehensive Capital Analysis and Review (CCAR) over the past two years. The bank expects to spend over $200 million on projects to ensure full compliance with stress testing and liquidity management protocols applied to SIFIs.
I view stress testing as a fundamentally important tool in the management of a bank’s risk and the assessment of its capital adequacy. The value of the insights it yields, however, does not increase in linear proportion to the investment made in the exercise, and this is particularly true for the smaller and less complex regional banking institutions.

Read the testimony.
View the webcast.

No comments:

Post a Comment

Please read our comment policy before making a comment.