The final rule removes large and noncomplex firms from the qualitative assessment of the Federal Reserve’s CCAR, reducing significant burden on these firms and focusing the qualitative review in CCAR on the largest, most complex financial institutions. More generally, changes to improve regulatory and supervisory practices related to stress testing by reducing unnecessary burden while preserving resilience are under consideration.
Possible changes have been discussed in Daniel K. Tarullo (2016), “Next Steps in the Evolution of Stress Testing,” speech delivered at the Yale University School of Management Leaders Forum, New Haven, Conn., September 26.