{"id":109800,"date":"2023-12-22T13:25:19","date_gmt":"2023-12-22T12:25:19","guid":{"rendered":"https:\/\/www.afg.asso.fr\/lesma-publie-son-rapport-final-portant-sur-les-modifications-de-la-methodologie-des-scenarios-de-stress-tests-de-liquidite-dans-le-cadre-du-reglement-des-fonds-monetaires-mmfr\/"},"modified":"2023-12-22T13:25:19","modified_gmt":"2023-12-22T12:25:19","slug":"lesma-publie-son-rapport-final-portant-sur-les-modifications-de-la-methodologie-des-scenarios-de-stress-tests-de-liquidite-dans-le-cadre-du-reglement-des-fonds-monetaires-mmfr","status":"publish","type":"post","link":"https:\/\/www.afg.asso.fr\/fr\/lesma-publie-son-rapport-final-portant-sur-les-modifications-de-la-methodologie-des-scenarios-de-stress-tests-de-liquidite-dans-le-cadre-du-reglement-des-fonds-monetaires-mmfr\/","title":{"rendered":"L\u2019ESMA publie son rapport final portant sur les modifications de la m\u00e9thodologie des sc\u00e9narios de stress tests de liquidit\u00e9 dans le cadre du r\u00e8glement des fonds mon\u00e9taires (MMFR)"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.afg.asso.fr\/fr\/publication\/\/final-report-guidelines-on-stress-test-scenarios-under-the-mmf-regulation-esma\/\" data-type=\"afg-document\" data-id=\"453736\">L\u2019ESMA a publi\u00e9 un rapport <\/a>qui d\u00e9taille les modifications des orientations d\u00e9crivant la m\u00e9thodologie des sc\u00e9narios de stress tests de liquidit\u00e9 que chaque g\u00e9rant de fonds mon\u00e9taire doit mettre en place conform\u00e9ment \u00e0 l\u2019article 28 du r\u00e8glement des fonds mon\u00e9taires (MMF). Ce rapport fait suite \u00e0 une consultation publi\u00e9e en avril.<\/p>\n\n\n\n<p>L\u2019objectif de l\u2019ESMA est de mieux prendre en compte les interactions entre la liquidit\u00e9 et les pressions de rachats \u00e0 la lumi\u00e8re des \u00e9v\u00e9nements de mars 2020. En cons\u00e9quence, les stress tests de liquidit\u00e9 sont compl\u00e9t\u00e9s par la simulation de rachats concomitants et la vente d\u2019une partie du portefeuille en mode \u00ab&nbsp;vertical slicing&nbsp;\u00bb. L\u2019impact de march\u00e9 est pris en compte pour le calcul.<\/p>\n\n\n\n<p>Les r\u00e9gulateurs locaux ont deux mois \u00e0 partir de la publication de ces orientations pour d\u00e9cider de se conformer ou non \u00e0 ce nouveau texte.<\/p>\n\n\n\n<p>Les soci\u00e9t\u00e9s de gestion doivent attendre de conna\u00eetre la date d&rsquo;application, telle que d\u00e9finie une fois que l&rsquo;AMF accepte de s&rsquo;y conformer, et non pas par anticipation.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.afg.asso.fr\/fr\/publication\/\/reponse-de-lafg-a-la-consultation-de-lesma-sur-son-projet-de-modification-de-la-methodologie-des-scenarios-de-stress-tests-dans-le-cadre-du-reglement-mmfr\/\" data-type=\"URL\" data-id=\"https:\/\/www.afg.asso.fr\/fr\/publication\/\/reponse-de-lafg-a-la-consultation-de-lesma-sur-son-projet-de-modification-de-la-methodologie-des-scenarios-de-stress-tests-dans-le-cadre-du-reglement-mmfr\/\" target=\"_blank\" rel=\"noreferrer noopener\">Consultez la r\u00e9ponse de l&rsquo;AFG \u00e0 cette consultation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>L\u2019ESMA a publi\u00e9 un rapport qui d\u00e9taille les modifications des orientations d\u00e9crivant la m\u00e9thodologie des sc\u00e9narios de stress tests de&hellip;<\/p>\n","protected":false},"author":0,"featured_media":14972,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_gspb_post_css":"","wds_primary_category":0,"footnotes":""},"categories":[5],"tags":[],"thematics":[191],"top_contenu":[],"class_list":["post-109800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee","thematics-stress_tests"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts\/109800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/comments?post=109800"}],"version-history":[{"count":0,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/posts\/109800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/media\/14972"}],"wp:attachment":[{"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/media?parent=109800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/categories?post=109800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/tags?post=109800"},{"taxonomy":"thematics","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/thematics?post=109800"},{"taxonomy":"top_contenu","embeddable":true,"href":"https:\/\/www.afg.asso.fr\/fr\/wp-json\/wp\/v2\/top_contenu?post=109800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}