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PRA’s 2024 ICAAP Stress Test Scenarios for Non-Systemic Banks
On 27th June 2024, the Prudential Regulation Authority (“PRA”) published the ICAAP Scenarios for non-systemic UK banks, which are the supply shock scenario and the demand shock scenario. This article summarises the key factors of the scenarios and provides specific points on how small- and medium-sized banks should approach there stress testing design processes, with relation to the 2024 ICAAP Scenarios.
ICAAP, Pillar 2A and Pillar 2B
The Internal Capital Adequacy Assessment Process (ICAAP) is the process in which the Board and management of the bank oversees and regularly assesses key financial and capital related aspects of the bank.