2026 CCAR: Slightly lower indicative SCBs, although capital requirements do not change

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2026 CCAR: Slightly lower indicative SCBs, although capital requirements do not change

Equity Research

25 June 2026 | 12:03AM EDT

AMERICAS BANKS

2026 CCAR: Slightly lower indicative SCBs, although capital

requirements do not change

The Fed released the results of its annual CCAR test on 6/24. While the results Richard Ramsden

+1(212)357-9981 |

were broadly encouraging with all banks passing the test and a capital draw richard.ramsden@gs.com

Goldman Sachs & Co. LLC

down of 1.4% (versus a 5 year average of 1.9%), we note that this year’s test is

James Yaronot binding and SCBs from the 2025 CCAR test will roll forward into 2027, given +1(212)902-1913 |

that the Fed is undertaking a comprehensive review of the CCAR process which james.e.yaro@gs.comGoldman Sachs & Co. LLC

is not yet complete. Hence, the results of this test are informational and the Ryan M. Nash, CFA

SCBs for the banking industry will remain unchanged relative to last year. +1(212)902-8963Goldman Sachs & Co.| ryan.nash@gs.comLLC

We note that the test does imply that if the results were binding, capital Alexander+1(212)357-9976Blostein,| CFA

requirements for the industry would fall modestly. We estimate that indicative alexander.blostein@gs.comGoldman Sachs & Co. LLC

Stress Capital Buffers (SCBs) were 2.7% (vs 2.8% last year). The YoY change was in Divyam Harlalka

large part driven by banks generating higher pre-provision net revenue (PPNR) over +1(332)245-7818 | divyam.harlalka@gs.com

the course of the test (PPNR for the largest banks increased by 33% YoY), but Goldman Sachs India SPL

provisions are 10% higher as notably CRE and C&I loss rates increased YoY Matthew Weng

+1(212)902-8484 |

(160bps/60bps), partially offset by lower mortgage and home equity loss rates matthew.weng@gs.com

(40bps/20bps).