Their efforts will incorporate periodic scenario analysis so we can better understand the consequences of economic shocks for both individual firms and the financial system. Off-site quantitative analysis will complement our traditional on-site supervision, but will be independently conducted to provide an alternative perspective to traditional examination findings.
To support and complement these initiatives, we are working with the other federal banking agencies to develop more-comprehensive information-reporting requirements for the largest firms. Traditional bank regulatory reports have not been sufficiently complete or timely to support continuous monitoring and analysis of the dynamic and diverse business activities of the largest, most complex organizations.