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Robert Kaplan, the chief of the Federal Reserve Bank of Dallas, has warned against watering down the stress tests on America’s biggest banks, saying it would be hazardous to loosen regulation at a time of soaring asset prices.
达拉斯联邦储备银行(Federal Reserve Bank of Dallas)行长罗伯特?卡普兰(Robert Kaplan)警告不要削弱针对美国各大银行的压力测试，他表示，在资产价格飙升之际放松监管将是危险的。
The Fed president said he was concerned about risk-taking in certain corners of the financial markets, but he argued that one of the reasons there has not been a broader build-up of dangerous levels of debt was the strong regulatory regime put in place after the crisis.
卡普兰表示，他对金融市场某些领域的冒险行为感到担忧，但他称，目前之所以没有出现更为广泛的危险水平的债务累积，原因之一就是在危机之后建立了强有力的监管机制。
“While market valuations may be full, I don’t see a build-up yet of excessive debt and one of the reasons is we have had very tough macroprudential policies, particularly on the big banks,” said Mr Kaplan. “Now is not the time to be easing back on, say, annual stress testing for big banks.”
“尽管市场估值可能已经到位，但我没有看到过多债务的累积，一个原因就是我们实行了非常严格的宏观审慎政策，特别是针对大银行，”卡普兰表示，“现在不是放松大银行年度压力测试的时候。”
His comments in an interview with the Financial Times ahead of the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming, echoed warnings by Stanley Fischer, the Federal Reserve Board’s vice-chair last week. Mr Fischer said attempts to slash regulatory burdens on big banks were dangerous and short-sighted.
他是在怀俄明州杰克逊霍尔举行的堪萨斯城联储年度研讨会前夕在接受英国《金融时报》采访时发表上述言论的，这与美国联邦储备委员会(Federal Reserve Board)副主席斯坦利?费舍尔(Stanley Fischer)上周提出的警告一致。费希尔表示，削减大银行监管负担的企图是危险和短视的。
Janet Yellen, the Fed chair, will address financial stability matters in a speech in Jackson Hole on Friday morning. The Fed’s long period of ultra-loose monetary policy has helped foster a renewed bout of risk-taking and high asset prices in markets, prompting Fed officials at their last meeting to lift their assessment of the risks associated with asset valuations.
美联储主席珍妮特?耶伦(Janet Yellen)周五上午将在杰克逊霍尔发表的演讲中谈到金融稳定问题。美联储的长期超宽松货币政策再度助长了一轮冒险行为和市场资产价格高企，这促使美联储官员在上次会议上提升了他们对资产估值相关风险的评估。
