On December 24th, Golden Data News reported that the Federal Reserve is considering a 'significant adjustment' to the annual stress tests for large U.S. banks to drop the fluctuation of test results and increase the transparency of the testing process. The Federal Reserve did not provide detailed information on how it will adjust the tests, but indicated that they may modify the model for calculating assumed losses by averaging the results over two years to mitigate the risk of significant fluctuations on a year-on-year basis, and allow public comment before determining the assumed scenarios for each year. The Federal Reserve stated that these adjustments are not intended to have a 'substantive impact on overall capital levels.' The Federal Reserve stated: 'In recent years, the framework of regulations has undergone significant changes.' 'The Committee has analyzed the current stress tests in the context of the evolving legal environment and decided to make some important modifications to enhance the resilience of the tests.' The industry lobbying group, the 'Bank Policy Research,' welcomed the Federal Reserve's statement, seeing it as a step towards 'transparency'.