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Banks

Fed's Yellen says stress testing is key part of bank supervision

Federal Reserve Chair Janet Yellen on Capitol Hill in Washington, U.S., February 14, 2017. REUTERS/Joshua Roberts

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen on Tuesday defended the central bank’s annual tests that assess how ready banks are to face financial shocks, saying they are a key part of banking supervision.”Stress testing has greatly strengthened our process of supervision,” Yellen said in a hearing before U.S. senators.

Reporting by Jason Lange and Patrick Rucker, Editing by Franklin Paul

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