SEC Approves Instant Stress Test Tweaks for Securities Clearing
Published Date: 3/9/2026
Notice
Summary
The National Securities Clearing Corporation (NSCC) is updating its stress testing rules to better prepare for financial shocks. This change affects NSCC and its partners, aiming to keep the system safe and sound without extra costs or delays. The new rules take effect immediately, helping protect investors and markets from surprises.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Stress Testing Supports Recovery Plans
If you invest or rely on securities markets, the NSCC clarified that its Stress Testing Team will identify scenario assumptions and calculate uncovered credit loss and uncovered liquidity shortfall amounts used in Recovery & Wind-down Plans, as required by Rule 17ad-26(a)(3). The Stress Testing Team will provide those loss amounts and work with the Recovery & Resolution (R&R) Team to support plans to recover or orderly wind down core services.
General Business Losses Added To Scenarios
The Framework now includes "general business losses"—examples given include fraud, natural disaster, and cyber events—as a specific area of stress testing. If you use clearing services, NSCC and its affiliates will include these types of losses in informational stress scenarios and in the subset of scenarios used for Recovery & Wind-down planning.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-17058, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Connectivity Schedule and Discontinue a Previously Proposed Offering
Previous / Next Documents
Previous: 2026-04507, Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Clearing Agency Stress Testing Framework
The Fixed Income Clearing Corporation (FICC) is updating its stress testing rules to better prepare for financial shocks. This change affects FICC and its partners, helping them spot risks faster and keep markets safe. The new rules took effect right away, aiming to protect billions in transactions without extra costs.
Next: 2026-04509, Notice of Proposed Information Collection Request: Guidelines for IMLS Grants to States Five-Year Evaluation
The Institute of Museum and Library Services (IMLS) wants your thoughts on their plan to collect info for a big five-year checkup on their Grants to States program. This helps make sure the paperwork is easy and useful, saving time and money for everyone involved. If you’re connected to libraries or museums getting these grants, now’s your chance to speak up before May 9, 2026!