The Wall Street Journal reported that as the largest U.S. banks prepare for their annual stress tests, many are realizing that the impact of COVID-19 is far worse.

The Journal noted that annual tests were designed to determine if the nation’s largest banks would survive the worst economic conditions the Fed could imagine: a recession, declines in the stock market and oil prices, and upticks in loan defaults and unemployment.

Many are anticipating that the fallout of COVID-19 will be far worse than the nightmare scenario envisioned on the Fed’s stress test, according to the Journal.