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Table of Contents
Executive Summary .............................................................................................................3Section One: Stress Testing and Shoring Up Bank Capital ................................................6A. Overview ............................................................................................................6B. The Stress Tests ................................................................................................13C. Immediate Impact of the Stress Tests ..............................................................27D. A Comment on the Supervisory Process..........................................................29
E. Specific Limitations of the Stress Tests ...........................................................30
F. Independent Analysis of Stress Tests ...............................................................31
G. Next Steps ........................................................................................................35H. Issues ................................................................................................................38
I. Recommendations ............................................................................................48
J. Conclusions ......................................................................................................49
K. Tables ...............................................................................................................50
Annex to Section One: The Supervisory Capital Assessment Program:An Appraisal ..........................................................................................................57Section Two: Additional Views ......................................................................................117
Section Three: Correspondence with Treasury Update ..................................................131
Section Four: TARP Updates Since Last Report ............................................................132
Section Five: Oversight Activities ..................................................................................149Section Six: About the Congressional Oversight Panel ..................................................151Appendices:APPENDIX I: LETTER FROM CHAIR ELIZABETH WARRENTO FEDERAL RESERVE CHAIRMAN BEN BERNANKEREGARDING THE CAPITAL ASSISTANCE PROGRAM,DATED MAY 11, 2009 .......................................................................................152APPENDIX II: LETTER FROM CHAIR ELIZABETH WARRENTO SECRETARY TIMOTHY GEITHNER REGARDING THE
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