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Stress Testing would henceforth be a mandatory regulatory requirement for all locally incorporated banks and those branches of foreign banks having total assets of more than 0.5% of total assets of the Saudi Banking system.. In order to meet this requirement, banks are required to conduct stress tests on regular basis. For this purpose, they should design, develop and implement their own stress testing programs in line with the nature, size and complexity of their businesses and risk profiles. The stress testing framework to be developed for this purpose should, inter alia, provide for the following:
i.
State objective(s) of the stress testing exercise;
ii.
Types of stress tests to be conducted;
iii.
Frequency of conducting stress tests;
iv.
Methodologies and techniques to be used including the defined scenarios and assumptions;
v.
Broad format for compiling the results of stress tests;
vi.
Strategy to deal with potential risks highlighted by the stress testing exercise;
vii.
Process for monitoring implementation of the remedial action plan.
