in force 2020-01-01 MODIFIED+88 −23§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
The description of systemic risk in the stress-testing evaluation now covers risk posed by, or to, financial market participants, rather than only risk posed by them.
The provision also adds a reference to potential environmental-related systemic risk as part of that evaluation, and changes the spelling of stress testing to stress-testing.
Cited: Art. 23, v2
text before / after
02010R1095-20140523 → 02010R1095-20200101
Article 23
Identification and measurement of systemic risk
1. The Authority shall, in consultation with the ESRB, develop criteria for the identification and measurement of systemic risk and an adequate stress testing stress-testing regime which includes an evaluation of the potential for systemic risk posed by by, or to, financial market participants to increase in situations of stress. stress, including potential environmental-related systemic risk. The financial market participants that may pose a systemic risk shall be subject to strengthened supervision, and where necessary, the recovery and resolution procedures referred to in Article 25.
2. The Authority shall take fully into account the relevant international approaches when developing the criteria for the identification and measurement of systemic risk posed by financial market participants, including those established by the Financial Stability Board, the International Monetary Fund and the Bank for International Settlements.