US Large Cap Banks: 2026 CCAR Results Mostly Positive/In Line; CFG The Biggest "Winner"

Research evidence excerpt

US Large Cap Banks: 2026 CCAR Results Mostly Positive/In Line; CFG The Biggest "Winner"

Deutsche Bank

Research

North America Industry Date

Banks US Large Cap Banks 24 June 2026

2026 CCAR Results Mostly Positive/In Line;

Matt O-Connor, CFA CFG The Biggest "Winner"

Research Analyst

+1-212-250-8489

After the close, the Fed released stress test results for the biggest banks. 32

banks were subject to the exam this year including Category IV banks (in our Bernard Von-Gizycki

coverage, only MTB opted into last year's test). Research Analyst

+1-212-250-5881

• As expected, all firms subject to this year’s test have sufficient capital to

absorb losses and lend to households under hypothetical stress Nathan Stein

conditions. The testing models were largely unchanged from last year’s +1-212-250-3462

stress test as they remain out for public comment.

• On average, estimated SCBs remained stable this year vs. the prior cycle

when SCBs came down a lot across the board. The results today

reinforce the de-regulatory theme for banks and is one reason why we

are positive on the group, along with solid/strong fundamentals and

attractive valuations.

o As previously announced, the 2026 results will not affect large-

bank capital requirements as the Fed is maintaining current

stress capital buffers until 2027 while it considers feedback on

stress-test model and scenario transparency. As a result, while

this year’s release still matters for relative capital resilience,

modeled loss content, and management capital-return signaling,

it is less directly tied to near-term SCB changes than a normal

CCAR cycle.

CFG is the biggest “winner”; For FCNCA, it’s complicated

As noted above, on average, SCBs remained stable among the 15 large cap banks

we track.