On June 9, the Fed, OCC, and FDIC released proposed joint guidance on stress testing for banking organizations with more than $10 billion in consolidated assets.  The proposed guidance provides an overview of how an organization should develop a structure for stress testing, outlines general principles for a satisfactory framework, describes how stress testing should be used at various levels within an organization, and emphasizes the importance of strong internal governance and controls in an effective stress-testing framework.  Comments must be submitted by July 29.  Joint ReleaseProposed Guidance.