IT seems strange that central bankers are still talking about conducting stress tests in the aftermath of the financial turmoil. Some even think that it is abating and, therefore, irrelevant to be digging up scenarios for testing.
Nobody likes to be reminded of bad times and the mention of stress tests jolts memories of those terrible days when age-old banks in the United States and Europe were going down like nine pins, crushed by severe losses and a massive credit crunch.
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