US: Federal Reserve to proceed with 2020 bank stress tests

The US Federal Reserve will proceed with 2020 bank stress tests and conduct additional "sensitivity analyses" to reflect "current economic and banking conditions," Reuters reported on Friday.

The Fed further noted that it has deferred or cancelled "non-critical" examinations at banks and instead will focus primarily on monitoring bank activities due to pandemic.

Market reaction

This headline was largely ignored by the market participants. As of writing, the S&P 500 Financials Index was up 1.7% on the day at 368 points.