Two senior members of the Congress Banking Committee claimed that US federal reserves were transferred to financial lobbyists because of plans for which legislators say they will weaken the rules for stress testing.
Considering that Jay Powell set up a two -day barbecue on the hill, Senator Elizabeth Warren and MP Maxine Waters wrote the Feda chair ahead of the examination of tests on stress at the Central Bank, which target the largest American leaflets.
“We are worried that instead of fighting banks on the courts and elsewhere, the Fed is now – after the election of President Trump – looking for new roads for premature tradition,” Warren and Waters wrote in a letter to the Feda chair.
On December 2nd, Fed said he would seek a public comment on efforts to improve the transparency of his stress tests.
The tests review the resistance of the largest American banks to a significant economic or financial shock.
“The rules of stress test tests that ensure that the banks were stable during the fiscal or economic crisis are unreasonable and unnecessary and would not in accordance with the mandate of the Fed to promote the security and health of the banking system and the wider financial stability,” the letter said.
