FOR IMMEDIATE RELEASE: June 29, 2016
CONTACT: Laena Fallon, (202) 457-8783
WASHINGTON, D.C. – Financial Services Forum Acting CEO John Dearie issued the following statement in response to the Federal Reserve’s 2016 Comprehensive Capital Analysis and Review (CCAR) results:
“Today’s CCAR results, together with the findings of the recent DFAST exercise, reflect the significant progress achieved since the financial crisis to improve the strength and resilience of the U.S. banking system. Since 2009, capital levels have doubled, liquidity has tripled, bank concentration has been significantly reduced, and regulators have successfully operationalized important new tools to address instability. As a result, the U.S. banking system has never been stronger and is now able to withstand the shock of even the highly unlikely severely adverse scenario imposed by CCAR.
“Given the progress achieved to date, it is important to ensure that current and proposed regulations continue to be calibrated to allow banks to perform their critical role of fueling economic growth by meeting the capital and financial product and service needs of American savers, households, and businesses. With that important goal in mind, we remain committed to working with regulators to ensure the shared goals of financial stability and stronger economic growth.”