The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger

WASHINGTON (Reuters) -The U.S. Federal Reserve unveiled plans Friday to make its models and scenarios for subjecting large banks to annual "stress tests" publicly available and responsive to feedback, a major shift in its efforts to make the tests more transparent.

The proposed changes, which the Fed board is expected to vote on later Friday, would shine a light on a critical regulatory tool established following the 2008 financial crisis. The test results each year help set capital requirements for large banks, based on how well they perform in a hypothetical economic downturn.

(Reporting by Pete Schroeder; Editing by Chizu Nomiyama )