It gives me great pleasure to be a member of the panel discussing the study by Messrs. Ingves, Leone, Hilbers, and O’Brien, “Assessing Financial Sector Soundness: The Role of the IMF.” I find it a challenging task to comment on a very informative description of the Financial Sector Assessment Program (FSAP). The study presents the background, context and related work of the program while raising the essential questions and worries that can be addressed, grasping the lessons that can be drawn from a relatively recent experience, and projecting the program into the future.