Fed defies coronavirus to push ahead with stress test
US diverges from Europe and forces banks to juggle CCAR with real-life operational burden
The US Federal Reserve is pressing ahead with its annual comprehensive capital analysis and review (CCAR) stress test, even as its counterparts in the European Union and UK cancel theirs in response to the global crisis triggered by the Covid-19 pandemic.
Concerns over market volatility, plummeting and unpredictable macro indicators, and unprecedented operational burdens caused by social distancing and staff absences have moved some lobby groups to question the value of hypothetical stress
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