KPMG's message to banks is that risks can no longer be assessed one at a time. The headline carries the essential point, warning that financial institutions must weigh the combined impact of threats that feed into each other. A credit shock that sets off funding stress, for example, rarely stays contained within a single balance sheet line. Regulators have been drifting toward the same view, growing skeptical of stress tests that model one scenario in isolation. For banks, the practical work involves stitching together risk data that usually sits in separate silos across the organization. Smaller lenders with thinner analytics teams would carry the heaviest load in such a shift. The report stops at the headline, so the specifics of KPMG's recommendations stay unstated.