Open Board Meeting on stress tests transparency, October 24, 2025

Federal Reserve Board · October 24, 2025

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Opening remarks and purpose

Presentation

0:00 → 1:05(1m 5s)

The meeting opened with the chair (referred to in the transcript as Chair Powell) thanking staff and outlining the day's purpose: to consider proposals to increase transparency and reduce volatility in the supervisory stress test by publishing model descriptions, scenario design guidance, and the 2026 scenario for public comment.

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The Federal Reserve Board voted to publish for public comment a package of proposals to disclose supervisory stress-test models, the scenario-design framework and the 2026 stress-test scenarios; the board approved the notice despite a dissent arguing the disclosures could weaken the tests.

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Transcript

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