BoJ lifts lid on new approach to macro stress testing
Central bank reveals underlying variables for first time
The Bank of Japan (BoJ) has upgraded its framework for system-wide stress tests and today (October 26) revealed new information on how it formulates its stress scenarios.
The BoJ produces a systemic "macro stress test" twice each year, to examine how a shock to the economy could be propagated via links between the financial and real sectors.
To date the central bank has used a tailored scenario to reflect particular risks at any point in time, but from now on it will produce a further "tail
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