On May 13th, the Federal Reserve Board announced that the 18 largest U.S. bank holding companies will be required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, 2013. In this test, each firm will develop its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. The results produced under the severely adverse scenario must be released between September 15 and September 30, 2013. Federal Reserve Board Press Release.