Credit Suisse was the only among 18 big banks where the U.S. Federal Reserve found what it called «limited weaknesses». Deutsche Bank passed this year’s stress test.

All 18 banks – including UBS, J.P. Morgan Chase and Bank of America – passed the test, according to a statement released by the Fed.

Deutsche Bank was among the banks tested and it passed without comment. Last year, Germany’s largest bank had failed the stress test.

Weakness in Assumption

Credit Suisse was the only bank to receive a so-called «conditional non-objection» for its capital plan. The Fed is requiring the firm to address weaknesses in its capital adequacy process by October 27, 2019.

Specifically, the Fed identified weaknesses in the assumptions used by Credit Suisse to project stressed trading losses that raise concerns about the firm’s capital adequacy and capital planning process.

Credit Suisse Promises to Make Amends

Until the Swiss bank has addressed the identified weaknesses to the satisfaction of the Fed, the board of the U.S. central bank is restricting the firm’s planned capital distributions to the amount that the firm was authorized to pay from July 1, 2018, through June 30, 2019.

Eric Varvel, the head of U.S. at Credit Suisse, said that the bank would remedy the addressed issue within the period given by the Fed.