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The Bank of England launched its latest stress test for its major banks today to assess the banking system’s resilience in the face of a severe negative shock.

The stress test for the U.K.’s largest, systemic banks — Barclays, HSBC, Lloyds Banking Group, Nationwide, NatWest Group, Santander UK and Standard Chartered — will explore the sector’s ability to weather large, simultaneous recessions in the U.K. and the global economy, large asset price declines, higher interest rates and increased misconduct costs.

For instance, this year’s test will examine the impact of a severe global supply shock, with a 20% drop in global trade, that results in a global recession (GDP down 2%), along with a 5% drop in U.K. GDP, and soaring inflation and unemployment.

“This tail risk scenario is used for the purposes of enhancing financial stability and promoting the safety and soundness of U.K. banks,” the central bank said in a release.

“By doing so the bank aims to ensure banks can absorb rather than amplify shocks and have the capacity to continue to serve U.K. households and businesses,” it said.

Along with a severe macroeconomic shock, the test also incorporates a financial markets risk scenario, and misconduct stress in the banking sector.

The results of the test, which will be released in the fourth quarter, will be used to inform the setting of banks’ capital buffers, while also alerting regulators to possible vulnerabilities.