Mid-sized U.S. banks can wait until next September to begin self-administered stress tests under rules approved Tuesday.
The Office of the Comptroller of the Currency, Federal Deposit Insurance Corp. and the Federal Reserve established guidelines for tests that lawmakers included in the Dodd-Frank Act as a way for banks with more than $10 billion in assets to show they can withstand an economic crisis. Banks with more than $50 billion in assets must start the tests this year, and those between $10 billion and $50 billion get an extra year.
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