+Article 48 2.

Article 48 2.

AIFMs shall regularly conduct stress tests, under normal and exceptional liquidity conditions, which enable them to assess the liquidity risk of each AIF under their management. The stress tests shall:

(a) 

be conducted on the basis of reliable and up-to-date information in quantitative terms or, where this is not appropriate, in qualitative terms;

(b) 

where appropriate, simulate a shortage of liquidity of the assets in the AIF and atypical redemption requests;

(c) 

cover market risks and any resulting impact, including on margin calls, collateral requirements or credit lines;

(d) 

account for valuation sensitivities under stressed conditions;

(e) 

be conducted at a frequency which is appropriate to the nature of the AIF, taking in to account the investment strategy, liquidity profile, type of investor and redemption policy of the AIF, and at least once a year.

1. Pregled

,

1.1 Sklici

1.2 Ugotovljene zahteve

1.3 Povezani standardi

2. Ugotovljene zahteve

Zahteve

3. Povezani standardi

Standardi