Moody’s Analytics released a report commissioned by TCH, entitled Measuring the Banking System’s Resilience, that presents a new framework for understanding and measuring the relationship between the stability of the banking system and its ability to contribute to the broader economy’s productivity and growth. The report offers a new definition for resilience for the banking system, defining it as a combination of the system’s ability to absorb shocks without relying on extraordinary government support and its ability to perform essential economic functions that contribute to the broader economy’s growth and productivity. The report stresses that one of the primary goals of financial regulation should be to ensure consistency with this definition, and offers a framework for evaluating the resilience of the banking system as a whole. This framework includes context for examining tradeoffs between increased stability through financial regulation and robust economic growth and identifying metrics for measuring banking system resilience as well as costs and benefits associated with macroprudential regulatory approaches. Ultimately, the report concludes that more work is needed to further understand banking system resilience, such as identifying the necessary data and metrics and building the relevant models.