This is generally the time horizon that is relevant for the Board’s deliberations on monetary policy. The forecasts embody a number of technical assumptions. These include that the cash rate 1 / 13  BIS central bankers' speeches  evolves broadly in line with the market expectations.
That initial experiment helped stabilize financial markets and shore up our banking system at a critical and uncertain time. Our challenge now is to preserve the strength of the test, while improving its efficiency, transparency, and integration into the post-crisis regulatory framework. To that end, the stress tests have not remained static.