And, in analogy to the need for effective capital planning, banks of all sizes need to further strengthen their ability to identify, quantify, and manage their liquidity risks. The evolution of stress testing Let me turn now to the evolution of stress testing as a supervisory tool.
One interesting question to ask here is this: why did FINMA, the Swiss supervisor, use a market – and not a resolution solution – to enable this sale? We have come a long way in improving crisis preparedness in the banking sector. In the aftermath of the 2008 financial crisis, resolution frameworks were established. Frameworks based on the FSB's Key Attributes.