FDIC Revises Stress Testing Requirements

Author:Mr Cadwalader, Wickersham & Taft LLP
Profession:Cadwalader, Wickersham & Taft LLP
 
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The FDIC adopted revisions to the stress testing requirements of FDIC-supervised institutions. The final rule was adopted without change. The rule will become effective on November 25, 2019.

The final rule is consistent with changes made under Section 401 of the Economic Growth, Regulatory Relief and Consumer Protection Act. The final rule:

amends the FDIC's existing stress testing regulations to increase the minimum threshold for applicability from $10 billion to $250 billion; eliminates two subcategories under the definition of "covered bank" and revises the definition of "covered bank" to mean a state nonmember bank or state savings...

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