Among the issues that banks need to focus on, and that directly impact the quality of stress tests, are basic information technology and data measurement issues that have not received sufficient attention and money, said Mayra Rodriguez Valladares, managing principal of financial consulting firm MRV Associates.

“The banks have tremendous problems with risk data and IT architecture,” she said.

Since those tools that are used to collect the data to undergo the stress tests, the Fed’s teams may not have perfect data to measure a bank’s resiliency, she said.

“Regulators have to play the game with the cards they’re dealt, and right now the cards aren’t very good,” Rodriguez Valladares said.