All banks passed CCAR this year. Any thoughts on the consulting business? Big 4? OW? MBB?

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Tests are expected to get tougher year-over-year, to account for the impact of negative rates, etc. I expect there will continue to be a healthy pipeline of work around CCAR.

I am expecting the republicans to start attacking the tests for effectively resulting in a tightening of monetary policy, which I think is valid. What if your sense of security came at the cost of economic growth?

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More bad news. First interest rates stick, now this. Somethings needs to break, soon.

Banks passed DFAST not CCAR. There is a difference. In prior years people who passed DFAST still could be hit on CCAR for qualitative reasons.

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