Risk managers complain about Fed stress test workload
Twelve new banks are included in this year's US stress test, and some institutions are unhappy about the extra work
The Federal Reserve Board has made few friends among bank risk managers with its latest industry-wide stress test. While observers welcome the exercise – which will now be carried out on an annual basis, in line with a final Dodd-Frank Act rule issued by the Fed on November 22 – those at the coal-face complain about the test's timing and the extra workload. Twelve of the banks included have not taken part in previous Fed stress tests.
One risk manager at a mid-sized US bank says gathering the
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