The Federal Reserve reportedly unveiled a comprehensive overhaul of its annual "stress tests" of large banks on Friday. Under a proposal to be voted on by the Federal Reserve Board later in the day, banks will get more information about how stress tests work, including making publicly confidential models available and soliciting opinions, and publishing the annual process of designing hypothetical recession scenarios that are the basis for stress testing. Bowman, vice chairman of the Federal Reserve's supervision, said the reform would bring long-lost transparency to stress testing. However, Federal Reserve Governor Barr strongly opposed the reform, saying disclosing too many test details would make it "weaker and less credible." Barr warned that banks will be able to accurately adjust book numbers to pass the test against minimum capital requirements that were originally used to protect against potential losses. The Federal Reserve Board of Governors is expected to move forward with the proposal and finalize it next year after soliciting public comment.