We deliberatively studied the issue, concluded that the public welfare investments indeed posed a lower risk to bank capital than the other real estate investments, and adjusted downward the shock we apply to those investments in advance of the 2020 stress test. More recently, we received feedback from banks via appeals of their stress capital buffers.
*  *  *  In recent weeks, economic forecasters in the United States have been debating whether an apparent turning point in the current business cycle augurs a modest or a more robust recovery in the months ahead.