The process can be burdensome and timeconsuming both for the requester and Federal Reserve staff. We are taking a serious look at rationalizing and recalibrating this framework. Finally, as I mentioned earlier, an enhanced stress testing transparency package was released for public comment last month. I personally believe that our stress testing disclosures can go further.
I appreciate the risks to the financial system of the industry converging on the Federal Reserve’s stress testing model too completely, so I am hesitant to support complete disclosure of our models for that reason. However, I believe that the disclosure we have provided does not go far enough to provide visibility into the supervisory models that often deliver a firm’s binding capital constraint.