Tarullo says Fed must ‘hone' stress test regime


Daniel Tarullo, the Federal Reserve Board governor, has said the US central bank must "hone" its yearly stress tests, as there is a "continuing need for improvement" in banks' capital planning processes.

Speaking yesterday in Boston, Tarullo argued some firms still lack "reliable information" about their businesses and exposures. They are also sometimes unable to measure or understand how stressful conditions can change their performance, he added.

"In particular, the capacity to assess the

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