US banks question stress-test discrepancies
Two large US banks have contacted the Federal Reserve about discrepancies between their stress-test filings and those published last week by supervisors.
Bank of America, the country’s second-largest bank by asset size, said on July 3 it was in talks with the Fed “to understand differences in other comprehensive income… between the Federal Reserve’s CCAR [Comprehensive Capital Analysis and Review] results and Bank of America’s Dodd-Frank Act stress-test results”.
The mismatch had caused BoA to
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