United States · Business news · Policy & Regulation · 30 Sept 2026
US Financials
The Federal Reserve Board adopted two final rules changing its annual stress test of large banks. The first requires the Board to seek public comment each year on its test scenarios and on significant model changes, and tests banks with large trading operations against two global market shocks a year, using the one that produces the bigger loss. The second sets each firm's stress capital buffer from the average of its two most recent test results, starting in 2028. The Board says the changes cut year-to-year swings in capital requirements by about 50% without materially changing total capital required.
The stress capital buffer decides how much common equity each large US bank is required to keep above the minimum, and so how much it can return through dividends and share repurchases. Averaging two years makes that number steadier and easier to plan around, which matters most to the largest banks and to trading-heavy firms whose results moved most from year to year. By the Fed's own estimate total required capital is about the same, so this is a change in predictability, not a release of capital.
Reported by Federal Reserve Board — “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” ↗ on 30 Sept 2026.
Official series on 30 Sept 2026 or the last day before it, and the latest observation.
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