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MIR 4.7.16

Past version: effective from 21/10/2015 - 20/10/2015
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For the purposes of Rule 4.7.14, a Recognised Clearing House must, on a regular basis as appropriate to the nature, scale and complexity of its operations:

(a) perform stress tests using models containing standards and predetermined parameters and assumptions; and
(b) carry out comprehensive and thorough analysis of stress testing models, scenarios, and underlying parameters and assumptions used to ensure that they are appropriate for determining the required level of default protection in light of current and evolving market conditions.