Chart 1 Euro area composite indicator of systemic stress  (index)  Source: Haver Analytics. Note: See also Holló, D., Kremer, M. and Lo Duca, M. (2012), “CISS – a composite indicator of systemic stress in the financial system”, Working Paper Series, No 1426, ECB, March. Latest observation: 21 September 2020.
-5Are we in the same place today as we were at the onset of the 2008 financial crisis? Of course not. While we have seen stress in some parts of the banking system, overall the system is strong and resilient. U.S. banks have high levels of capital and liquidity, and banks of all sizes continue to support the economy.