U.S. Banks: 2026 DFAST Results Key Takeaways

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U.S. Banks: 2026 DFAST Results Key Takeaways

RBC Capital Markets, LLC

Gerard Cassidy (Co-Head of

Global Financials Research)

(207) 780-1554,

gerard.cassidy@rbccm.com

Jon G. Arfstrom (Associate

Director of U.S. Research)

(646) 703-3565,

June 24, 2026 jon.arfstrom@rbccm.com

Karl Shepard, CFA (Analyst)

(612) 371-2709, U.S. Banks: 2026 DFAST Results Key Takeaways karl.shepard@rbccm.com

Thomas Leddy (AVP)RESEARCH The 32 Largest U.S. Banks Once Again Demonstrate Resiliency (207) 780-1554,

Our view: The 2026 Dodd-Frank Act Stress Test (DFAST) results were released today for 32 banks, thomas.leddy@rbccm.com Taylor Irwin, CFA (Associate)

which included the extended cycle regional banks. All the 32 banks passed the stress test this year. (612) 766-9613,

The cumulative (P&L) losses for the industry in the stress test were $708 billion versus last year's $553 taylor.irwin@rbccm.com

billion and total loan losses increased to $625 billion from $472 billion. Loan losses as a percent of

loans were estimated at 6.9% vs. 6.6% in the 2025 test. The higher loan loss percentage was driven by

increases in nearly every category. The 2026 test included greater loan losses, primarily as a result of 32

banks participating in this year's DFAST versus 22 last year. The group's minimum CET1 ratio was 11.2%EQUITY

vs. 11.5% in 2025 and 9.9% in 2024. Importantly pre-provision net revenues, the lifeblood of a bank,

were positive for all the banks in 2026 similar to 2025. Overall the results were strong and are another

indication to investors that the industry has been de-risked following the 2008-09 financial crisis and

has ample liquidity and capital to manage through a severe economic downturn and capital markets

collapse more effectively than in 2008-09.