FILE PHOTO: The Federal Reserve seal is seen during Chairman Jerome Powell news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. REUTERS/Yuri Gripas
May 8, 2020
WASHINGTON (Reuters) – The Federal Reserve plans to build on the upcoming round of bank stress tests by conducting additional “sensitivity analyses” that reflect the ongoing pandemic-driven turmoil.
The central bank said in a report issued Friday that it plans to proceed with its 2020 stress tests and also do further analysis via “alternative scenarios and certain adjustment to portfolios to credibly reflect current economic and banking conditions.” The Fed also said it had deferred or cancelled most “non-critical” examinations at banks due to the pandemic.
(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)
