The U.S. Treasury and Federal Reserve Bank have asked top U.S. banks not to discuss the “stress tests” which regulators are conducting to determine the viability of the companies, according to reports.
The tests are designed to see if the financial institutions currently need additional capital to remain stable and also to test their viability in a more stressful economic situation than is currently forecasted.
The banks do not yet know the result of the tests, a source told Reuters. Many of the top 19 banks have already completed their own internal versions of the tests, the agency says.
The source said the desire to keep the results hidden will be discussed at a meeting on Friday where President Barack Obama is meeting with financial regulators.
Discussions are also continuing to decide how to release the tests results, with Treasury making the decision to do so, a source familiar with the talks told Reuters.
The Federal Reserve has told Goldman Sachs Group Inc, Citigroup Inc, and other banks not to talk about the results, Bloomberg reported. The central bank does not want the results to be leaked during the next few weeks when top company executives make conference calls with analysts after they release their quarterly earnings reports, Bloomberg reported. The Fed is overseeing the administration of the tests.