March 21, 2014
Federal Reserve issues corrected results for the 2014 Dodd-Frank Act stress test
For immediate release
The Federal Reserve on Friday issued corrected results for the 2014 Dodd-Frank Act stress test. For 26 of the 30 firms, the correction led to either no change or at most a 0.1 percentage point change in the firms' minimum, post-stress tier 1 common capital ratios in the severely adverse scenario. The change led to a 0.3 percentage point increase at two firms, a 0.2 percentage point decrease at one firm, and a 0.5 percentage point decline at another.
The capital ratios were adjusted to address inconsistencies in the treatment of the fourth quarter 2013 actual capital actions and assumptions about preferred and employee compensation-related issuance over the course of the planning horizon.
The attachment reflects the updated minimum tier 1 common capital ratios and the changes from the prior release. The Federal Reserve will reissue a full result paper on Monday with corrections as they affect all capital ratios.
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