After a quarter of broadly negative ratings actions on the banking sector that felt like a storm of falling anvils, the release of the Federal Reserve Dodd-Frank Act Stress Test ("DFAST") and Comprehensive Capital Analysis and Review ("CCAR") afforded some relief for bank credit investors.
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USBAM CIO, Jim Palmer, comments on the Fed's decision to cut interest rates by 50 basis points.
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The annual Shared National Credit Program results reveal elevated levels of potentially problematic commercial loans in the system relative to pre-2008, although the riskiest exposure has moved away from traditional banks.
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USBAM comments on the January 29
th FOMC meeting.
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