The central bank said it will release the results of the new analysis by the end of 2020. The upcoming test marks an unprecedented second stress test in a year for the Fed, which said the “continued uncertainty” from the pandemic made it necessary to keep testing bank resilience.
The Fed previously published stress test results in June, which found that banks would face heavy losses from hypothetical pandemic-driven lockdowns, but mostly retain necessary capital cushions. The Fed opted to publish aggregate results in that “sensitivity analysis,” after deciding a supplemental test was necessary after rolling out the original test before the pandemic spread to the United States.
“Uncertainty over the course of the next few quarters remains unusually high, and these two additional tests will provide more information on the resiliency of large banks,” said Randal Quarles, the Fed’s vice chairman for supervision, in a statement.
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