Fed's Tarullo: Stress tests are the most important supervisory innovation in 20 years

• Not quite there in solving too-big-to-fail
• Capital levels way up at biggest banks
• The net on smaller banks may have been cast too widely
• It could be time to examine the rules on the impact on smaller banks

Trump's administration is talking about switching stress tests to every second year from annually.
Nothing on the economy so far. Tarullo announced he's leaving the Fed in April.