Dodd-Frank Act Stress Test 2016:
Supervisory Stress Test Methodology
and Results
June 2016
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Dodd-Frank Act Stress Test 2016:
Supervisory Stress Test Methodology
and Results
June 2016
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
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Preface
The Federal Reserve promotes a safe, sound, and
stable banking and financial system that supports the
growth and stability of the U.S. economy through its
supervision of bank holding companies (BHCs), sav-
ings and loan holding companies, state member
banks, and nonbank financial institutions that the
Financial Stability Oversight Council (FSOC) has
determined shall be supervised by the Board of Gov-
ernors of the Federal Reserve System.1
The Federal Reserve has established frameworks and
programs for the supervision of its largest and most
complex financial institutions to fulfill its supervisory
objectives and to reorient its supervisory program in
response to the lessons learned from the financial cri-
sis. As part of these supervisory frameworks and pro-
grams, the Federal Reserve annually assesses whether
BHCs with $50 billion or more in total consolidated
assets have effective capital planning processes and
sufficient capital to absorb losses during stressful
conditions while meeting obligations to creditors and
counterparties and continuing to serve as credit inter-
mediaries. This annual assessment includes two
related programs:
(CCAR) evaluates a BHC’s capital adequacy, capi-
tal planning process, and planned capital distribu-
tions, such as any dividend payments and common
stock repurchases. As part of CCAR, the Federal
Reserve evaluates whether BHCs have sufficient
capital to continue operations throughout times of
economic and financial market stress and whether
they have robust, forward-looking capital-planning
processes that account for their unique risks. The
Federal Reserve may object to a BHC’s capital plan
on quantitative or qualitative grounds. If the Fed-
eral Reserve objects to a BHC’s capital plan, the
BHC may not make any capital distribution unless
the Federal Reserve indicates in writing that it does
not object to the distribution.
forward-looking quantitative evaluation of the
impact of stressful economic and financial market
conditions on BHC capital. This program serves to
inform the Federal Reserve, the financial compa-
nies, and the general public of how institutions’
capital ratios might change under a hypothetical set
of economic conditions developed by the Federal
Reserve.2 The supervisory stress test, after incorpo-
rating firms’ planned capital actions, is also used
for quantitative assessment in CCAR.
1Information on the Federal Reserve’s regulation and supervi-
sion function, including more detail on stress testing and capital
planning assessment, is available on the Federal Reserve website
at federalreserve.gov/bankinforeg/default.htm.
2In addition to an annual supervisory stress test conducted by
the Federal Reserve, each BHC is required to conduct annual
company-run stress tests under the same supervisory scenarios
and conduct a mid-cycle stress test under company-developed
scenarios.
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