中金：美国近期银行爆雷事件暂不构成对金融系统的系统性冲击

Core Viewpoint - The recent risks faced by two U.S. banks are smaller in scale and severity compared to the previous round, primarily driven by localized credit risk events that have led to emotional reactions, and do not currently pose a systemic threat to the financial system [1] Group 1 - The current high interest rate environment is contributing to an upward trend in credit risk [1] - A potential decline in risk appetite in the credit market and tightening loan conditions could lead to further liquidity constraints [1] - Credit tightening is expected to be moderate and unlikely to result in a "crisis" scenario before clear signs of economic recession emerge in the U.S. [1]