{
  "title": "Liquidity Stress Tests for Investment Funds: A Practical Guide",
  "publication": "IMF Working Papers, October 31, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2017/10/31/liquidity-stress-tests-for-investment-funds-a-practical-guide-45332",
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  "summary": "This paper outlines a framework to perform liquidity stress tests for investment funds. Practical aspects related to the calibration of the redemption shock, the measurement of liquidity buffers and the assessment of the resilience of investment funds are discussed.",
  "sections": [
    {
      "heading": "Overview and purpose",
      "content": "- Paper outlines a framework to perform liquidity stress tests for investment funds.\n- Practical aspects discussed include:\n  - calibration of the redemption shock,\n  - measurement of liquidity buffers,\n  - assessment of the resilience of investment funds.\n- Integration topics covered:\n  - integration of liquidity stress tests with banking sector stress tests,\n  - possible bank-fund interlinkages."
    },
    {
      "heading": "Subjects and thematic scope",
      "content": "- Subjects:\n  - Banking\n  - Bonds\n  - Financial institutions\n  - Financial regulation and supervision\n  - Financial sector policy and analysis\n  - Liquidity requirements\n  - Liquidity stress testing\n  - Mutual funds\n  - Securities\n- Keywords (as provided):\n  - bank-fund interlinkage\n  - Bonds\n  - Europe\n  - fund\n  - fund manager\n  - HY fund\n  - investment funds\n  - liquidity\n  - liquidity buffer\n  - Liquidity requirements\n  - Liquidity stress testing\n  - Mutual funds\n  - redemption\n  - redemption shock\n  - Securities\n  - stress test\n  - WP"
    },
    {
      "heading": "Main analytical components (as presented)",
      "content": "- Framework elements for liquidity stress testing:\n  - calibration of redemption shock (methodological discussion).\n  - measurement of liquidity buffers (practical measurement considerations).\n  - assessment of fund resilience (assessment approaches).\n- Cross-sector considerations:\n  - integration with banking sector stress tests.\n  - analysis of possible bank-fund interlinkages."
    },
    {
      "heading": "Usage and caveat",
      "content": "- IMF Working Papers describe research in progress and are published to elicit comments and to encourage debate.\n- Views expressed are those of the author and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.\n\nSource: IMF Working Paper — Antoine Bouveret, \"Liquidity Stress Tests for Investment Funds: A Practical Guide\", Working Paper No. 2017/226, October 31, 2017.\n\n---\n\n Content in this bundle\n\n- Liquidity Stress Tests for Investment Funds: A Practical Guide, WP/17/226, October 2017\n  - Liquidity Stress Tests for Investment Funds: A Practical Guide, WP/17/226, October 2017 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Liquidity Stress Tests for Investment Funds: A Practical Guide, WP/17/226, October 2017 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2017/10/31/liquidity-stress-tests-for-investment-funds-a-practical-guide-45332"
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    "Authors: Antoine Bouveret",
    "Published: October 31, 2017",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484324783.001",
    "Paper outlines a framework to perform liquidity stress tests for investment funds.",
    "Practical aspects discussed include:",
    "Integration topics covered:",
    "Subjects:",
    "Keywords (as provided):",
    "Framework elements for liquidity stress testing:",
    "Cross-sector considerations:",
    "IMF Working Papers describe research in progress and are published to elicit comments and to encourage debate.",
    "Views expressed are those of the author and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.",
    "**Liquidity Stress Tests for Investment Funds: A Practical Guide, WP/17/226, October 2017**"
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