Although this “shield” of capital is supposed to cover all risk factors without them being broken down in greater detail (for operational and legal risks, too, for instance), the calculation of the required supervisory capital is essentially geared to a single risk factor: the default risk (and, to a lesser extent, the market risk, from January 1998 onwards).
A declining US dollar helps the US economy adjust to its problems, but also shifts those problems in part to other countries. In passing, I have to say that I am not criticising the United States for this – to date, they have shouldered more than their fair share of the responsibility for getting a global expansion going.