ESMA stress test of central counterparties finds clearing system resilient
ESMA Guidelines and Recommendations
Date:
05 October 2022
On 5 July 2022, the European Securities and Markets Authority (ESMA), published the
results of its fourth stress test exercise of Central Counterparties (CCPs). The results confirm the overall resilience of European Union (EU) CCPs, as well as third-country Tier 2 CCPs, to credit, concentration and operational risks under the tested scenarios and implemented framework. However, the stress test also identified areas where some CCPs may need to strengthen their risk management frameworks, or where further supervisory work should be prioritised, including on concentration and operational risks.