4  See “Enhanced Risk-Assessment Framework,” Bank of Canada Financial System Review (June 2014): 1–2; and I. Christensen, G. Kumar, C. Meh and L. Zorn, “Assessing Vulnerabilities in the Canadian Financial System,” Bank of Canada Financial System Review (June 2015): 37–46.
5  The sectors we examine include the following: (i) financial institutions (including large and small banks), credit unions, trust companies, life insurance companies, and pension funds; (ii) financial and property markets and non-bank financial intermediation; (iii) the end-users of financial system services such as households, governments and non-financial corporations; and (iv) payment clearing and settlement systems and financial  2  BIS central bankers’ speeches  The second step is developing a risk scenario for each of the most serious vulnerabilities, including a list of possible triggers.