IOSCO draws a few lessons from its s=consultation about strengthening the resilience of trading venuws through enhanced BCP testing, effective governance frameworks, managing dependencies on people, premises, processes... IOSCO report link: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD694.pdf
The Bank of England’s 2021 ‘solvency stress test’ (SST) shows the major UK banks are resilient to a severe path for the economy in 2021–25 on top of the economic shock associated with the Covid-19 (Covid) pandemic that occurred in 2020. These results support the Financial Policy Committee's (FPC) judgement that the system is resilient [...]
This FSB report commemorates the tenth anniversary of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions (“Key Attributes”), whose main aim was to address the potential issue of "Too Big To Fail" institutions. According to the FSB, the 3 main axis for further progress are: Banks – Important work remains to improve [...]
The NGFS (Network for Greening the Financial System) report shares 30 NGFS members’ experiences of conducting climate scenario analysis, highlighting a diversity of design choices and approaches. At the time of publication of the report, NGFS have defined a suite of scenarios and associated models and methodologies, completed and published the result of 4 climate [...]
The ECB publishes a document describing the main characteristics of the 2022 climate risk stress test exercise and providing banks with guidance on how to conduct the exercise. There are 2 main chapters: • Chapter 2 which sets out the process for the banks’ submissions and provides a high-level overview of the quality assurance process [...]
The Bank of England publishes its latest survey on systemic risks (a biannual exercise). The survey is not the Bank's view but the result of feedback received from market participants treasurers and management executives. A most interesting result is the nature of the most quoted risk categories: Cyber-attack (cited by 74% of respondents). Geopolitical risk [...]
The ECB publishes the results of its economy-wide climate stress test, spanning more than four million firms worldwide and 1,600 euro area banks under three different climate policy scenarios. The results highlight a couple of major conclusions: 1) Firms and banks will benefit from early adoption of green policies and a transition plan towards a [...]
30/07/2021 The adverse scenario has an impact of 485 bps on banks’ CET1 fully loaded capital ratio (497 bps on a transitional basis), leading to a 10.2% CET1 capital ratio at the end of 2023 (10.3% on a transitional basis). The adverse stress test scenario was set by the ECB/ESRB and covers a three-year time [...]
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