If not, the credibility of the whole exercise is put at risk, as the outcome will then almost certainly be negatively perceived by market participants. Doing this balance sheet assessment without a backstop in place would be a bit like getting on a boat in rough weather conditions, and not taking a life jacket on board.
I wish you well in your deliberations, and urge you to take on your tasks with energy, knowing that you contribute to the welfare and benefit of our people – particularly those who are in most need of support. 4/4  BIS central bankers' speeches