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高盛(GS.US)如何在美联储年度压力测试中大获全胜?
智通财经网· 2025-07-03 03:54
智通财经APP获悉,根据美联储今年的压力测试情景,高盛(GS.US)在遭遇经济冲击时可能仅损失3亿美 元,远低于一年前预测的180亿美元。这也是该行向股东派发巨额股息的一个重要原因。 这一预测的大幅下滑反映出高盛近年来在降低风险敞口方面的努力。但同时,这也体现出美联储在压力 测试方法上的技术性调整,这些变化使得华尔街最大的银行更容易通过测试。因此,在周二,多家银行 宣布提高分红和启动股票回购。 多家银行都从这一更"宽松"的测试中受益,但没有哪一家像高盛那样受益明显。高盛宣布将其季度分红 提高33%,至每股4美元。由于预计损失大幅下降,其最低资本要求比例也从此前的13.6%降至10.9%, 为自2020年现行测试机制实施以来的最低水平。巴克莱银行分析师Jason Goldberg直言:"高盛绝对是最 大的赢家。" 高盛和其他大型美国银行每年都需接受美联储的压力测试,以评估其应对市场冲击的能力。今年,美联 储假设经济在一年内下滑7.8%、失业率上升至10%、住房价格下降33%、商业地产价格下跌30%,来测 试银行的抗压能力。 美联储今年对压力测试的一个关键调整是在市场冲击情景中剔除了私募股权投资,而这一领域正是高 ...
Major Banks Pass 2025 Stress Test: Bigger Payouts in the Cards?
ZACKS· 2025-06-30 16:11
Core Insights - The annual stress test results indicate that all 22 tested banks passed, demonstrating strong capital levels under a less severe scenario compared to the previous year [1][7] - The Federal Reserve's vice chair for supervision confirmed that large banks are well-capitalized and resilient to severe economic outcomes [1] Group 1: Stress Test Overview - The Federal Reserve conducts annual stress tests to assess the largest U.S. banks' ability to withstand significant economic downturns, determining minimum capital requirements and influencing share repurchases and dividends [2] - The stress test evaluates banks' financial resilience by estimating losses, revenues, expenses, and resulting capital levels under hypothetical economic conditions, including baseline and severely adverse scenarios [3] Group 2: Details of This Year's Test - This year's severely adverse scenario included a smaller increase in the unemployment rate and a less severe decline in house prices compared to the previous year [4] - All 22 banks maintained capital levels above the required threshold in a scenario where GDP contracts by 8%, commercial real estate prices decline by 30%, house prices drop by 33%, and the unemployment rate rises to 10% [5] Group 3: Capital Ratios and Loss Projections - The minimum common equity tier 1 capital ratio required to pass the test is 4.5%, while the banks collectively had a ratio of 11.6% during the stress scenario, absorbing projected hypothetical losses exceeding $550 billion [6] - Projected losses included approximately $158 billion in credit card losses, $124 billion from commercial and industrial loans, and $52 billion from commercial real estate [6] Group 4: Regulatory Implications - With all banks passing the stress test, they are positioned to issue dividends and buy back shares, returning capital to investors [7] - The Federal Reserve proposed easing capital rules, potentially freeing up $213 billion for bank subsidiaries and enhancing profitability [7][11] Group 5: Proposed Regulatory Changes - The Fed's proposal aims to reduce capital requirements for Global Systemically Important Banks (GSIBs) by 1.4% or $13 billion, and for depository institution subsidiaries by 27% or $213 billion [11] - The proposed changes would replace current enhanced Supplementary Leverage Ratio (SLR) buffers with a new structure based on each bank's GSIB surcharge, allowing banks more flexibility in managing low-risk assets [12]
美联储表示,银行整体资本要求总体保持不变。
news flash· 2025-06-27 15:18
美联储表示,银行整体资本要求总体保持不变。 ...
Fed Proposes Easing Capital Requirements for Major Banks
ZACKS· 2025-06-26 16:10
Key Takeaways Fed proposes easing capital rules for major banks, including JPM, BAC, GS and MS. Plan would cut capital needs by $13B at top banks and $213B at their subsidiaries. New rule ties SLR buffers to half of each bank's GSIB surcharge instead of fixed rates.The Federal Reserve unveiled a proposal to ease the enhanced Supplementary Leverage Ratio (SLR) to reduce capital requirements significantly for the major U.S. banks, including JPMorgan Chase & Co. (JPM) , Bank of America (BAC) , Goldman Sachs ...
瑞银集团:原则上支持(瑞士)监管部门的大部分建议。(财务指标的)调整将引发资本要求。将从核心一级资本(CET1 Capital)扣除国外业务部门的投资。将维持大约240亿美元形式上的(Pro Forma)核心一级资本。
news flash· 2025-06-06 15:43
将从核心一级资本(CET1 Capital)扣除国外业务部门的投资。 将维持大约240亿美元形式上的(Pro Forma)核心一级资本。 瑞银集团:原则上支持(瑞士)监管部门的大部分建议。 (财务指标的)调整将引发资本要求。 ...
瑞银集团:强烈反对大幅提高资本要求的提议。原则上支持瑞士联邦委员会今天公布的大部分监管建议。
news flash· 2025-06-06 15:37
瑞银集团:强烈反对大幅提高资本要求的提议。原则上支持瑞士联邦委员会今天公布的大部分监管建 议。 ...
瑞银集团在瑞士提案下面临额外260亿美元的资本要求。
news flash· 2025-06-06 13:02
瑞银集团在瑞士提案下面临额外260亿美元的资本要求。 ...