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What will be the banking sector's response to the lawsuit outcome against the Federal Reserve?
2
Resolution / Starting Odds
Positive response • 25%
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Official statements from major banks or banking associations
Story
Major U.S. Banks Plan Lawsuit Against Federal Reserve Today Over Annual Stress Tests
Dec 24, 2024, 01:30 PM
Several major U.S. banks are preparing to sue the Federal Reserve over its annual stress tests, which assess banks' capital adequacy in the face of economic downturns. The lawsuit is expected to be filed as soon as today, according to reports. The stress tests have faced criticism from the banking sector for their opaque nature and the capital requirements they impose, which dictate the size of share repurchases and dividends. The legal challenge comes amid recent discussions about potential changes to the stress testing framework following legal rulings. Notably, the lawsuit is backed by various banking and business groups, indicating a collective push against the Fed's current practices regarding stress tests.
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