19 For example, researchers at the Federal Reserve Bank of New York have developed a top-down stress-testing  model, and simulation results from the model suggest that the resilience of the U.S. banking system has improved since the crisis; see Beverly Hirtle, Anna Kovner, James Vickery, and Meru Bhanot (2014), “ Assessing Financial Stability: The Capital and Loss Assessment under Stress Scenarios (CLASS) Model (PDF),” Staff Report 663 (New York: Federal Reserve Bank of New York, February; revised July 2015).
We will print the ID at less than $ a piece – 60 cents to be exact. We will provide the needed equipment and space for the embedding of personal information onto the blank cards, which will be done by the Philippine Statistics Authority. The card issuance will start in April 2020.