The National Institute of Finance must have the analytic and computational resources needed to measure and monitor systemic risk throughout the financial system, investigate disruptions and changes in risk patterns, and conduct the long-term research needed to support effective systemic risk regulation. The only definitive way to gain a clear picture of system-wide risk will be through large-scale scenario analysis of the financial system and by modeling, at a fine level, how the system responds to a wide-range of shocks. The computational resources needed would be roughly in line with the current, non-classified, high performance computing facility at the Oak Ridge National Laboratory. The staffing and budget for the NIF, when it is fully functioning, would be a substantial fraction of those at existing financial regulatory agencies, such as the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, or the Securities and Exchange Commission.