美联储敲定压力测试新规以提高透明度并降低资本要求波动
Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements
Rizab Persekutuan memuktamadkan dua peraturan untuk mengukuhkan ketelusan ujian tekanan dan akauntabiliti awam dan mengurangkan turun naik keperluan modal berkaitan ujian tekanan. Peraturan tersebut memerlukan perundingan awam tahunan mengenai senario ujian dan perubahan model utama, dengan ujian tekanan 2027 mengguna pakai model yang dikemas kini dan menggunakan dua kejutan pasaran global kepada bank yang mempunyai buku dagangan yang besar. Bermula dari 2028, keperluan penampan modal tekanan akan menjadi purata keputusan dua ujian tekanan tahunan terbaharu, dan turun naik tahun ke tahun dalam keperluan modal dijangka dikurangkan sebanyak kira-kira 50%.
The Federal Reserve's increased transparency in stress tests and smoothing out fluctuations in capital requirements will help reduce banking regulatory uncertainty, which may in turn affect the market's assessment of the stability of the financial system and risk appetite. For foreign exchange and gold traders, this measure may indirectly affect the volatility environment of the U.S. dollar and gold by changing bank stock performance, U.S. dollar liquidity expectations, and overall risk aversion. It is worth paying attention to the guidance of subsequent specific model changes and the implementation of the two-year average mechanism on market risk pricing.
美联储通过每年公开模型变更并自2028年起两年平均压力测试结果，使资本要求波动预计下降约50%，读者可据此判断银行资本监管规则的可预测性变化。
来源：Federal Reserve Press Releases · federalreserve.gov