The Financial Services Authority has published a feedback statement on stress testing in firms' risk-management frameworks, summarising the comments it received to its stress testing discussion paper and its responses to them.
The FSA published Discussion Paper 05/02: Stress Testing in May 2005, setting out the main findings of two surveys it carried out in 2002 and 2003 into the form and nature of stress testing undertaken by banks, securities and insurance firms, and establishing the extent to which firms were integrating stress testing into their risk-management frameworks. The FSA says the feedback statement should be read by any firms which have been, or will be, affected by the Individual Capital Adequacy Standards (ICAS) and the implementation of the Capital Requirements Directive (CRD). The feedback s...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes