Source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20230614a.htm
The Federal Reserve Board is going to announce the results of its annual stress tests for banks on Wednesday, June 28, at 4:30 p.m. EDT.
These tests evaluate the resilience of 23 large banks by simulating a severe global recession that severely impacts real estate and corporate debt markets.
The scenario they're using for the test involves the U.S. unemployment rate rising to 10% accompanied by severe market volatility, wide corporate bond spreads, and a crash in asset prices.
This year, banks with significant trading operations will also be tested against a global market shock, which adds additional stress to their trading positions.
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For the first time, the stress test will include an exploratory market shock for the largest and most complex banks, the results of which will be released on a firm-specific basis.
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However, this exploratory shock won't contribute to this year's capital requirements it's meant to provide more information about the banks' resilience and help the Board understand how to capture a wider array of risks in future stress tests--aka the portion of the test we know you are going to fail, so it does not count against your grade, but we need to know how bad you would have done...
Considering the last of LIBOR priced swaps that were extended last year, need to be actually closed effective June 30th....I wonder why the FED is releasing results, and conducting test, right now.
UNUSUAL - They usually conduct the test around October and release the results at the end of the year. Also I get real sketched out when they "simulate" scenarios these days. Looks like a possible playbook of an upcoming event.
Edit: Related Content: Dodd-Frank Act Stress Tests 2023: https://www.federalreserve.gov/supervisionreg/dfa-stress-tests-2023.htm
Major Christian podcast that's doing an episode on Ukraine.
LF insightful and questions to ask when interviewing two Christians who live over there there to get their perspective on what is reality vs what misinformation / MSM is claiming.
If you have any ideas of what you think would be good questions to ask, please comment.
Thanks!
Guardians of the Galaxy 3 is the most anti trans movie I've ever seen! How did James Gunn, canceled by the woke mob at Disney, then rehired get away with this?
SPOILERS BELOW
Bad guy literally transmutates animals. Turning then against their biology.
Rocket Racoon struggles to embrace his true biology. Only later coming to terms with who he was actually created as.
Villian claims there is no God until he stepped in.
Wanted to create a world without bigots. World he created resembles meth laden streets of San Francisco.
The villian has tons of children in cages who are rescued.
Holy cow this is some subtle writing and the fact that Disney didn't see the message is crazy to me.
