Esma finds CCPs resilient ‘overall’ in first stress test
First annual stress test shows CCPs on the whole prepared to face "extreme but plausible" shocks
The resources held by European central counterparties (CCPs) "can overall be assessed as resilient" to market shocks, according to the European Securities and Markets Authority (Esma).
It published the results of the first set of stress tests conducted on the institutions on April 29. The authority did also recommend national competent authorities (NCAs) make some changes to how they assess CCPs.
Esma focused entirely on scenarios in which CCPs faced counterparty credit risk. The risks resulted
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