# Professor Philipp Schnabl is quoted about Federal Reserve stress tests

1 Faculty News October 5, 2016 ![Fox Business logo](/sites/default/files/styles/246w/public/assets/images/con_031722.jpg?itok=a0Gxu60a)>

Excerpt from [Fox Business](http://www.foxbusiness.com/markets/2016/10/05/what-need-to-know-about-fed-annual-capital-plan-and-stress-test-assessments.html) -- "'Ultimately, the idea of stress tests is to prevent another financial crisis,' said [Philipp Schnabl](http://www.stern.nyu.edu/faculty/bio/philipp-schnabl), a professor of finance at NYU's Stern School of Business. 'A safe financial system is important to all investors.'"

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