JEC CHAIR MALONEY OPEN TO REPEAT, EXPANDED STRESS TESTS

Following Recommendations of new COP Report, Maloney Will Examine the Possibility of Ongoing Tests to Measure Bank’s Strength

Maloney: Stress Tests Need To Be Extended Beyond 2010

Washington, D.C. – Following a Joint Economic Committee (JEC) hearing at which Congressional Oversight Panel Chair Elizabeth Warren recommended additional bank stress tests, Congresswoman Carolyn B. Maloney, Chair of the JEC released the follow statement calling for a continuing series of government supervised stress tests:

“While the first round stress tests were a step forward, Professor Warren and the Congressional Oversight Panel pointed to several areas where continued monitoring is needed.  I second the Panel’s recommendation that the time horizon of the stress tests needs to be extended beyond 2010 – especially considering the ongoing concerns in the commercial real estate market, which could have significant longer term negative impacts on the financial system.”

-Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee

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