Cheryl and team — the attached is a nearly-complete draft of how we might apply those 25 Stress Tests to what the CWG and CCWG are presently considering. 

As we’ve said, you can’t apply stress tests definitively until you have a defined mechanism/structure to test.   

Nonetheless, we’ll do our best with the proposed mechanisms at this point. 

Please review over the weekend and provide edits.  We can discuss on our call Wednesday 11-March at 11:00 UTC.

Regards,

Steve