Dodd-Frank Act Stress Test 2014: Supervisory Stress Test Methodology and Results
PrintErrata
The Federal Reserve revised this report on March 24, 2014, to address inconsistencies in the treatment of the fourth quarter 2013 actual capital actions and assumptions about preferred and employee compensation-related issuance over the course of the planning horizon. A minor technical correction was also made to tier 2 capital. The changes do not affect the projections of pre-provision net revenue, other revenue, provisions, loan losses and loan loss rates, realized losses/gains on securities, trading and counterparty losses, other losses/gains, net income before taxes, other comprehensive income, or accumulated other comprehensive income included in capital.
The revisions are shown in the tables found in new Appendix E and are reflected in the following tables and
figures republished in this revised version of the report:
Tables 2, 3, 4, 8, 9, 10, and C.1.A through C.30.B
Figures 9, 10, 15, and 16
In addition, the following revisions were made to the text in this report:
On page 23, column 2, first full paragraph, the second sentence was incorrect in the report published on March 20, 2014, and should have read "Overall, the total amount of tier 1 common capital held by the 30 BHCs is estimated to fall $286 billion, or about 30 percent, from the third quarter of 2013 to the end of 2015 under the severely adverse scenario." Due to the subsequent revision of the report, the first number in this sentence has been revised to $283 billion.
On page 23, column 2, first full paragraph, the numbers in the third sentence have been revised from 2.3 percentage points and 4.1 percentage points to 2.5 percentage points and 4.6 percentage points, respectively.
On page 39, column 1, first full paragraph, the second sentence was incorrect in the report published on March 20, 2014, and should have read "Overall, the total amount of tier 1 common capital held by the 30 BHCs is estimated to increase by $2.8 billion, or less than 1 percent, from the third quarter of 2013 to the end of 2015 under the adverse scenario." Due to the subsequent revision of the report, the numbers in this sentence have been revised to $5.9 billion and 1 percent, respectively.
On page 39, column 1, first full paragraph, the numbers in the fourth sentence have been revised from 1.8 and 2.0 percentage points to 2.2 and 2.5 percentage points, respectively.
On page 39, column 1, first full paragraph, the number in the fifth sentence has been revised from 0.9 percentage point to 1.1 percentage point.
