London software testing news UK

FSA stress testing

Posted in Acceptance testing by testing in London on February 2, 2007

From Business Insurance

LONDON—Economic and financial stability is set to continue in the global economy in 2007, but if something were to go wrong, the impact would be far greater than only two or three years ago, according to the U.K. regulator—the Financial Services Authority.

The FSA published its analysis of the global risk landscape in its annual “Financial Risk Outlook” report.

This document is to designed to raise awareness of the priority risks which it believes it—and the users and providers of financial services—need to focus upon.The FSA said that its findings meant that firms need to improve their stress testing because of the apparent rise in impact that a shock could have upon the financial sector, were it to happen in the next 18 months.

“While the central case is one of continued economic and financial stability, the various trends in place now mean that were something to go wrong, it would have a much bigger impact than two or three years ago. This has implications for both providers and consumers of financial services,” said Callum McCarthy, chairman of the FSA.

“Stress testing and scenario analysis enables firms to assess and mitigate the risks that face them. It is important that firms use this period of relative stability to identify risks that could arise in less benign times. Our work shows that many firms need to do more to develop their stress testing and to use more challenging scenarios,” continued Mr. McCarthy.

Stress testing IT Systems

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