Regulator to ‘reflect’ on IRRBB shocks after rates leap

Once considered too harsh by banks, stress scenarios may even prove too generous

Rates rise montage

The European banking regulator will reconsider whether a key test of banks’ resilience to interest rate shocks will need to be recalibrated in light of the sharp rises in base rates and interbank lending levels over recent months.

The test – part of global standards on interest rate risk in the banking book, or IRRBB – forces banks to stress-test their lending business under a series of hypothetical scenarios, including a sudden jump in rates of up to 2.5 percentage points.

The US has seen a 3

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