Stress Testing the Corporate Debt Servicing Capacity: A Scenario Analysis

FEDS Notes Pub Date : 2024-05-01 DOI:10.17016/2380-7172.3481
Dalida Kadyrzhanova, Ander Pérez-Orive, Eliezer Singer
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Abstract

The total volume of outstanding debt issued by U.S. nonfinancial firms relative to GDP has increased by about 8 percentage points in the past decade. While a growing volume of debt was largely viewed as benign in the low interest rate environment of the 2010s, the rapid increase in both short- and long-term rates since early 2022 has raised concerns about the debt-servicing capacity of the corporate sector.
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企业偿债能力压力测试:情景分析
在过去十年中,美国非金融企业发行的未偿债务总额相对于国内生产总值(GDP)增加了约 8 个百分点。虽然在 2010 年代的低利率环境下,债务量的增长在很大程度上被视为是良性的,但自 2022 年初以来,短期和长期利率的快速上升引发了人们对企业部门偿债能力的担忧。
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