Banking and Financial Services Outsourcing

It has been a year since the Federal Government imposed the Supervisory Capital Assessment Program (SCAP), also known as the bank stress test. "By setting reasonably ambitious capital targets, we hoped to hasten the return to a better lending environment," said Ben S. Bernanke, Chairman of the United States Federal Reserve, speaking at an event in Chicago in early May, this year (2010). However, Mr. Bernanke admitted that the objective had still not been met. "Bank lending continues to contract, and terms and conditions remain tight," added Bernanke.