You can now read 10 articles each month for free on BostonGlobe.com.

The Boston Globe

Business

Medium banks get reprieve on tests

WASHINGTON — Midsized US banks can wait until next September to begin self-administered stress tests under regulators’ rules approved Tuesday that call for public disclosures of some of the findings.

The Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., and the Federal Reserve established guidelines for tests that lawmakers included in the Dodd-Frank Act as a way for banks with more than $10 billion in assets to show they can withstand an economic crisis. Banks with more than $50 billion in assets must start the tests this year, and those between $10 billion and $50 billion get an extra year.

Continue reading below

‘‘I believe the implementation timeline in the final rule strikes the right balance,’’ comptroller of the currency Thomas Curry said at Tuesday’s FDIC meeting, adding that the agencies will address another concern from banks — that regulators coordinate their approaches to the tests. ‘‘As supervisors, we should avoid pushing and pulling companies in different directions,’’ Curry said.

FDIC statistics show 108 US-regulated banks meet the size threshold for participation in the internal tests overseen by the FDIC, OCC, and the Fed.

You have reached the limit of 10 free articles a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than $1 a week