If there are situations that are different from country to country, as is the case, other instruments, in particular at national levels, are in the hands of the governments, the parliaments and, in some cases, the national central banks of the countries concerned.
Our experience to date has been that transparency around the stress testing exercise improves the credibility of the exercise and creates accountability both for firms and supervisors. That said, too much transparency can also have potentially negative consequences, an idea to which I will turn shortly.