Market News: Several large US banks plan to sue the Federal Reserve

According to market news, a person familiar with the matter revealed that several large banks are planning to sue the Federal Reserve over the annual bank stress test. The person said that the lawsuit is expected to be filed this week, possibly as early as Tuesday morning local time. The Federal Reserve's stress test is an annual routine that requires banks to reserve sufficient buffer funds for bad loans and stipulates the scale of stock buybacks and dividends. After the close of Monday this week, the Federal Reserve announced in a statement that it plans to adjust the bank stress test, but it did not elaborate on the specific adjustments to the annual stress test framework. But these adjustments may not be enough to eliminate banks' concerns about heavy capital requirements. Because the Federal Reserve said: "These proposed adjustments are not intended to have a substantial impact on overall capital requirements." Greg Bell, CEO of the Bank Policy Institute (BPI), which represents large banks such as JPMorgan Chase, Citigroup and Goldman Sachs, welcomed the Fed's statement. He said in a statement: "The Fed's statement today is the first step towards transparency and accountability." However, Bell also hinted that further action may be taken: "We are carefully studying this statement and considering other measures to ensure timely reforms that are both legal and policy-compliant." (Jinshi)