Second, the banking system as a whole has loss-absorbing capacity for shocks that are materially worse than current baseline projections. That loss-absorbing capacity is not, however, unlimited. Third, the macroprudential framework has helped ensure that the financial system is better able to absorb the shocks being faced currently.The experience of the current shock also offers lessons for the evolution of the framework over time.
On our part, we are committed to developing that framework, domestically and at European and international levels, so it can most effectively safeguard financial stability and ensure the financial system works in the best interests of consumers and the wider economy. 4/4  BIS central bankers' speeches