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CCP stress-test rifts emerge as review gets underway
Calls for more transparency surrounding stress-testing methodologies and practices have led to CPMI-Iosco launching a policy working group to investigate whether to introduce standardisation, but clearing houses argue CCPs know their products and markets, and should be allowed to design their own tests
![risk-0615-ccp-cover-story-web risk-0615-ccp-cover-story-web](/sites/default/files/styles/landscape_750_463/public/import/IMG/999/318999/risk-0615-ccp-cover-story-web.jpg.webp?h=dc2dfc20&itok=C8cimsbt)
After grumbling for months about flaws in the way clearing houses set their default resources – through stress tests subject to high-level principles – market participants finally persuaded regulators to roll up their sleeves and take a look.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (Iosco) established a working group to examine stress-testing practices at central counterparties (CCPs) last October, and a formal
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