It is quite possible that the sense coming out of the macro analysis or stress tests will be in the nature of potential leads without any conclusive evidence and therefore not amenable to rule based approach. However, this should not lead to inaction if there are overriding considerations of financial stability.
Assuming that the above work program unfolds as intended and is fully implemented, would it be sufficient to prevent the next crisis? Perhaps not. But what it will undoubtedly achieve is to give sufficient room for regulators to act.