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The Federal Reserve announced the results of its bank stress tests will be revealed on June 22 and 28, with a senior official saying the central bank would provide financial institutions with additional details regarding the said test.
Fed Governor Jerome Powell said Thursday they will also change its method of overseeing banks' boards of directors. He added the central bank is making these changes to determine whether the regulations implemented since the financial crisis have become too arduous.
The Fed is adhering to its usual two-part schedule, beginning with the release of the results under the Dodd-Frank legislation on June 22. The central bank will then unveil its decision on major banks' proposal to return capital to investors six days later.
In the coming months, Powell mentioned authorities are working on a relaxed manner of enforcing the Volcker rule but did not elaborate further.
