12. Institutions should have in place a stress testing programme that should cover at least the …

Institutions should have in place a stress testing programme that should cover at least the following:

a) the types of stress testing and their main objectives and applications;
b) the frequency of the different stress testing exercises;
c) the internal governance arrangements including well-defined, transparent and consistent lines of responsibility and procedures;
d) in the case of a group, the scope of the entities included and the coverage (e.g. risk types and portfolios) of the stress tests;
e) the relevant data infrastructure;
f) the methodological details, including models used and possible links between liquidity stress tests and solvency stress tests, namely the magnitude of such dynamic interactions and the capture of feedback effects;
g) the range of assumptions, including business and managerial, and remedial actions envisaged for each stress test.

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