Banking is a critical sector for the economy since deposits and lending depend on it. The uncertainty surrounding a number of banks over the last two weeks has set off alarms about the sector as a whole with many wondering whether we are facing a new ‘Lehman moment’. To answer this question we must first go to the root of the current situation, determine whether banks are liquid and solvent, and establish measures to face this situation. This partly involves a significant shift in monetary policy, namely, interest rates and central banks’ balance sheet reduction. Such changes will also bring about uncertainty about inflation and economic growth going forward. In this report, we try to answer the ten key questions that may help us determine the severity of the current situation, and its future outlook.