The Bank of Russia has updated its mandatory stress testing scenarios for non-governmental pension funds (NPFs).
The scenarios now provide for a smoother rebound of the OFZ value after the decline period compared with the previous scenario. The probability of asset defaults has been additionally updated based on data from rating agencies. The document has also been supplemented with a new scenario indicator — the gold price per troy ounce — due to increasing interest in instruments linked to the price of the precious metal.
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