Crockett (1997) takes financial stability to apply to both institutions and markets. In other words, stability requires (1) that the key institutions in the financial system are stable, in that there is a high degree of confidence that they can continue to meet their contractual obligations without interruption or outside assistance; and (2) that the key markets are stable, in that participants can confidently transact in them at prices that reflect fundamental forces and that do not vary substantially over short periods when there have been no changes in fundamentals. Thus, stability in financial institutions means the absence of stress that has the potential to cause measurable economic harm beyond a strictly limited group of customers and counterparties while stability in financial markets means the absence of price movement that causes wider economic damage