Core Viewpoint - The Federal Reserve is considering a comprehensive reform of its core review mechanism, allowing Wall Street banks to have advance knowledge of upcoming stress test standards, aimed at improving model design and transparency in the stress testing process [1][2] Group 1: Stress Test Reforms - The Federal Reserve's plan includes soliciting bank input on the "severely adverse scenario" for the next round of stress tests, which will be implemented before the 2026 tests [1] - The most severe scenario for the 2026 stress tests includes a global economic recession, significant declines in stock and real estate values, and a U.S. unemployment rate reaching approximately 10% [3][4] - The asset-liability data date for stress tests will be changed from December 31 to September 30, with the Fed stating that these adjustments are not expected to have a substantial impact on capital requirements for participating institutions [2] Group 2: Industry Reactions - The Bank Policy Institute and the Financial Services Forum expressed support for the Federal Reserve's initiatives, while some industry representatives criticized the lack of transparency in the stress test standard-setting process [5] - Former Fed bank policy lawyer Jeremy Kress criticized the plan as a compromise to bank lawsuits, arguing that there is no legal requirement to turn stress tests into an "open book exam" [6]
美联储拟全面改革审查新机制 将对银行压力测试实施“开卷考试”
Zhi Tong Cai Jing·2025-10-25 02:45