We have a better capitalized and more liquid banking system, less run-prone money markets, and more robust resolution mechanisms for large financial institutions. However, it would be foolish to think we have eliminated all risks. For example, we still have limited insight into parts of the shadow banking system, and–as already mentioned–uncertainty remains about the final configuration of short-term funding markets in the wake of money funds reform.
Debt has been exploding, and folks at the Bank for International Settlements have pointed out that the debt/GDP ratio is higher than it was before the 2008 crisis. If there is another crisis, Fischer will be able to say that he did not claim that all risks were gone. Still, it is a very smug assessment, and if the debt bomb (and I include the government debt bomb) explodes in the next year or two, this will be the sort of speech that will indicate that policy makers were blind.
If it takes longer than a couple years for the debt bomb to explode, then I imagine that there will be other speeches made between now and then that will look worse in hindsight.