WG “Recovery, Resolution and Resilience”- Review of Critical Functions & Stress Scenarios
ISSA’s Recovery, Resolution & Resilience Working Group has published today the “2021 Review of Critical Functions and Stress Scenarios”. This paper can be found here.
The Working Group (WG) was established with the aim of developing a common understanding of critical functions and services among the market participants, i.e. the Global Systemically Important Banks (GSIBs) and Financial Market Infrastructures (FMIs). It identified a set of stress scenarios and testing criteria to foster exchange of information between GSIBs and FMIs in order to assess the impact on the industry which could potentially arise from these scenarios.
ISSA would like to thank the participants of the WG for their contributions and hopes the membership finds the document a useful resource to deepen their thinking on potential scenarios which could affect their firms.