The U.S. Federal Reserve said on Monday it was considering major changes to its annual bank "stress tests" in light of recent legal developments, including allowing lenders to provide comment on the models it uses,

Wall Street banks will have a fresh opportunity to weigh in on a raft of changes to how the US Federal Reserve conducts its annual bank-health check up, the central bank said on Monday.

The Federal Reserve will seek comment on their current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.