UK watchdog calls for more stress testing
The UK’s chief financial watchdog, the Financial Services Authority (FSA), has called for more stress and scenario testing to ensure firms have robust strategies in place to address a raft of potential risks to their businesses this year.
The watchdog said these factors and others “highlight the need for firms to assure themselves that they are capable of withstanding a combination of losses”.
“The prospect of revenues remaining depressed during 2003 increases the risk of further losses across these sectors,” said FSA
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