In the July 2017 Outlook Report, the medians of the Policy Board members’ forecasts of the real GDP growth rates for fiscal 2017 and fiscal 2018 are 1.8 percent and 1.4 percent, respectively (Chart 6).
As with market risk exposures, these counterparty exposures are becoming increasingly complex and difficult to measure. •  Third, the valuation of increasingly complex products presents yet another challenge. Many of these products have not been tested under periods of stressed liquidity, which could have a significant impact on valuations.