Fed issues corrected U.S. stress test results after identifying error in initial June release

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington

WASHINGTON (Reuters) – The U.S. Federal Reserve on Friday issued corrected stress test results after identifying an error in projected trading losses from its June 2020 initial release.

The Fed said while Goldman Sachs and Morgan Stanley will see slightly lower capital requirements under recalculated results, other affected banks’ capital requirements remain unchanged.

The central bank said that the error also resulted in miscalculated hypothetical losses for five banks, including Citigroup, Goldman Sachs, Morgan Stanley, Wells Fargo and HSBC.

(Reporting by Katanga Johnson; Editing by Chizu Nomiyama)

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