The  2  BIS central bankers’ speeches  Stress Test builds on the AQR by providing a forward-looking view of banks’ shockabsorption capacity under prescribed macro-economic scenarios and constraints. We are well advanced for the AQR exercise. This has involved the examination of credit and market exposures, for both on and off-balance sheet exposures, covering all material asset classes.
It will result in more than 50 per cent of assets by risk weight being reviewed by national competent authority teams. For us, this means having engaged auditors to review over 4,000 credit files and resultant collateral valuations.