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UK clearing houses stability to be tested by Bank of England

( April 19, 2024, 15:51 GMT | Official Statement) -- MLex Summary: The three UK authorized clearing houses — ICE Clear Europe Limited (ICEU), LCH Limited (LCH), and LME Clear Limited (LMEC) — are set to face the Bank of England’s 2024 stress test. Britain's central bank will conduct a credit stress test to assess the sufficiency of clearing houses’ financial resources to absorb losses. Similarly to 2023, the BOE will conduct a reverse stress test to evaluate how increasing the severity of different input assumptions affects the resilience of these institutions. This year, the bank will not conduct a liquidity test. Results and findings from the stress-test exercise are expected in a report at the end of 2024. “While these exercises are not ‘pass-fail’ the findings are used to support and inform the bank’s supervisory and regulatory activities,” the BOE said in a statement.Statement attached....

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