We will be speaking about stress tests and reviewing the experiences of Argentina and Bolivia, the latter as part of our Financial Stability Report. With regard to Bolivia, I would like to point out that our experience is perhaps not widely known, and that, furthermore, each country’s experience is unique.
I will briefly highlight some lessons from the international crisis and recent reforms in macroprudential regulation, particularly the role of central bank in macroprudential regulation, then describe the Bolivian experience, and finally draw some conclusions. 1. Lessons from the international crisis  One of the main lessons from the crisis is that, after Lehman, financial markets will not return to their pre-crisis level.