1. STs were undertaken as part of the Guernsey FSAP Update in order to assess the resilience of the Guernsey financial system to a variety of potential strains. As part of financial stability analysis, STs complement other approaches to the assessment of risk, both qualitative assessments (for example the evaluation of the degree of observance of prudential standards) and quantitative analysis (financial soundness indicators (FSIs), peer group analysis, early warning type approaches)
