Regulatory Alerts2020-05-29
Communications - Communication of 29 May 2020 - SIM and SIM Groups
The Bank of Italy issued this communication to update the regulatory framework for Securities Investment Firms (SIM) and SIM groups regarding interest rate risk management and internal stress testing. The changes implement European Banking Authority guidelines on non-trading book interest rate risk and organizational requirements for stress tests, incorporating specific discretions on simplified measurement methods and risk management functions. Firms must align their risk management systems within 60 days of publication and achieve full compliance by the 2021 ICAAP reporting cycle.
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