Preface AcknowledgmentsAbbreviationsIntroduction: Scene Setting, Preliminaries, Outline, and Main Findings1 Why Were the EU-Wide Stress Tests Not Better Received?2 Operational Features and Evolution of the US and EU-Wide Tests3 Criticisms of Stress Testing Methodology and the Measurement of Bank Capital4 What We Have Learned-or Should Have Learned- about the Right Level of Bank-Capital Ratios5 Estimating Capital Surcharges for Global Systemically Important Banks6 Lessons from the US and EU-Wide Tests7 A Plan for Bank-Capital Reform8 Potential Objections to the Plan for Bank-Capital Reform and Closing Remarks9 Postscript