FOR IMMEDIATE RELEASE: June 28, 2018
CONTACT: Barbara Hagenbaugh, (202) 457-8783
WASHINGTON, D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement Thursday following the release of the results of the Comprehensive Capital Analysis and Review (CCAR) by the Board of Governors of the Federal Reserve System.
“The CCAR results again demonstrate that the nation’s largest financial institutions are strong, resilient, and positioned to promote economic growth and job creation even in times of severe financial stress.
“The members of the Financial Services Forum play a critical function in the U.S. economy and are key drivers of capital formation, economic growth, job creation, and opportunity for all Americans. Our institutions have now completed eight years of the Federal Reserve’s capital planning review. We look forward to working with the Federal Reserve and other policymakers to develop sensible changes to CCAR.
“Further, we will continue to work with policymakers to ensure the capital framework balances the costs and benefits of higher capital in light of the many other significant regulatory changes that have been implemented in recent years to best position our financial institutions to support the needs of the U.S. economy in a safe and sound manner.”
The Financial Services Forum is an economic policy and advocacy organization whose members are the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.