Federal Reserve Board Announces the Formation of the Model Validation Council

April 23, 2012

The Federal Reserve Board on April 20, 2012 announced the formation of the Model Validation Council, which will provide the Federal Reserve with expert and independent advice on its process to rigorously assess the models used in stress tests of banking institutions. In addition, the Federal Reserve announced it will host a two-day symposium to discuss best practices in stress testing.

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