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Stress Testing and Back-testing for UCITS [23]

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Bullet points include: In the spirit of (3), mentioned in CRMPG-III (August 2008). And now getting wider exposure. Assume that the firm suffers a large loss of a given quantum. Brainstorm how such a loss might occur. Hopefully by doing so identify how best to mitigate against such risks. Very relevant for regulators. Arguably they have a greater interest in what happens if a firm fails than shareholders (who have already been wiped out by then)

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