DTC Rolls Out Immediate Stress Testing Framework Amendments
Published Date: 3/9/2026
Notice
Summary
The Depository Trust Company (DTC) and its partners are updating their stress testing rules to better prepare for financial shocks. This change affects big financial players who rely on DTC to keep markets safe and smooth. The new rules kick in right away, helping protect the system without costing extra money.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Clearer Stress Tests for Recovery
The Depository Trust Company and its affiliates updated their Clearing Agency Stress Testing Framework to clarify how the DTCC Stress Testing Team supports Recovery & Wind-down Plans required by Rule 17ad-26(a)(3). The Framework explicitly ties stress testing inputs and assumptions to scenarios that could prevent a clearing agency from providing core services, including uncovered credit losses, uncovered liquidity shortfalls, and general business losses.
No New Competitive Burdens
The Clearing Agencies state the proposed Framework amendments are intended to summarize roles and clarify methodologies and that they do not believe the changes will have any impact or impose any burden on competition or unfairly inhibit access to Clearing Agencies' services. The proposal emphasizes that RWP Scenarios are maintained under existing Recovery & Wind-down Plans already approved by the Commission.
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Key Dates
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