Stress testing has become an important part of capital regulation for large U.S. banking organizations through the annual Dodd-Frank-Act stress tests (DFAST) and Comprehensive Capital Analysis and Review (CCAR). The Federal Reserve will host the "Stress Testing: A Discussion and Review" conference to discuss the transparency and effectiveness of the stress tests and how the stress tests can remain a dynamic and useful tool of large bank supervision.

The conference will be held on July 9, 2019 at the Federal Reserve Bank of Boston, and will bring together academics, regulators, bankers, and other stakeholders. The panels will include overviews and discussions of themes that are at the forefront of stress testing, including the effectiveness of stress testing as a policy tool, dynamism and transparency in stress testing, and the effects stress tests have on economic and financial conditions. These panels will feature thought leaders who will provide unique perspectives on stress testing.

Agenda

8:30 a.m. – 8:45 a.m. Welcoming Remarks Lisa Ryu Senior Associate Director Board of Governors of the Federal Reserve System

8:45 a.m. – 9:00 a.m. Opening Remarks (via Video) Jerome Powell Chair Board of Governors of the Federal Reserve System

9:00 a.m. – 10:30 a.m. Stress Tests as Policy Tool Download Presentation (pdf) Moderator Michael Gibson Director Board of Governors of the Federal Reserve System Presenter Andrew Metrick Director Yale University (Co-Author: Greg Feldberg, Director of Research, Yale Program of Financial Stability)

Download Paper (pdf) Discussants Charlotte Gerken Director Cross Sectoral and Insurance Policy Bank of England

Download Paper (pdf) Dennis Kelleher President and Chief Executive Officer Better Markets

Download Paper (pdf) Brian Lee Chief Accounting Officer and Controller Goldman Sachs

11:00 a.m. – 12:30 p.m. Dynamism and Transparency in Stress Testing Download Presentation (pdf) Moderator Beverly Hirtle Executive Vice President Federal Reserve Bank of New York Presenter Mark Flannery Bank of America Eminent Scholar in Finance University of Florida

Download Paper (pdf) Discussants Tim Clark Former Deputy Director Board of Governors of the Federal Reserve System

Download Paper (pdf) Dennis Kelleher President and Chief Executive Officer Better Markets Randall Guynn Head of Financial Institutions Group Davis Polk & Wardwell

Download Paper (pdf) Andrew Kuritzkes Chief Risk Officer State Street Corporation

2:00 p.m. – 3:00 p.m. Keynote Speech Randal Quarles Vice Chair for Supervision Board of Governors of the Federal Reserve System