This role was a return to the original purpose of stress testing and a confirmation of its earliest use during the 2008 financial crisis. It also, however, affirmed the ways that stress testing has evolved in recent years, into a more flexible, more transparent anchor for the Federal Reserve’s broader capital program.
Adequately regulated, it should be possible to effectively mitigate systemic risks posed by such non-banking financial institutions and enable them to affect financial stability more positively. 2  BIS central bankers’ speeches