Standard Stress Testing Suite Services Sample Clauses

Standard Stress Testing Suite Services. Sub-Administrator will stress test each Fund’s investment portfolio based on a minimum of the following pre-determined events that are part of its Standard Stress Testing Suite: (a) Increases in the level of short-term interest rates. Sub-Administrator will test for increases in interest rates by assessing the impact of parallel shifts to the yield curve.
Standard Stress Testing Suite Services. Sub-Administrator will stress test each Fund’s investment portfolio based on the following pre-determined events that are part of its Standard Stress Testing Suite: (a) Interest rate shifts. Sub-Administrator will test for the impact of shifts in interest rates in multiple ways. First, Sub-Administrator will apply changes in various interest rates equally across all points on the yield curve. In addition, Sub-Administrator will perform “non-parallel” interest rate testing in which, for example, it would assume that long-term rates increased more than short-term rates or that mid-term rates shifted while long- and short-term rates remain fixed. (b) Increase in shareholder redemptions. Sub-Administrator will perform tests in which it assumes that a certain number of shares are being redeemed at $1.00 per share at a time when the net asset value is, for example, $0.9975 and then measure the resulting impact on net asset value for remaining shareholders. Sub-Administrator will also perform a combined test measuring the impact of shareholder redemptions and interest rate shifts.
Standard Stress Testing Suite Services. State Street will provide stress tests based on State Street’s Standard Stress Testing Suite (described below). Testing will be performed daily, weekly, monthly or quarterly as the Funds instruct State Street. State Street risk specialists will be available to assist the Funds in interpreting stress test results. State Street will stress test each Portfolio’s investment portfolio based on a minimum of the following pre-determined events that are part of its Standard Stress Testing Suite: (a) Increases in the level of short-term interest rates. State Street will test for increases in interest rates by assessing the impact of parallel shifts to the yield curve.
Standard Stress Testing Suite Services. 2.1.1 State Street will provide stress tests based on State Street’s Standard Stress Testing Suite (described below). Testing will be performed daily, weekly, monthly or quarterly as directed by the Funds. State Street risk specialists will be available to assist the Funds in interpreting stress test results. State Street will stress test each Portfolio’s investment portfolio based on the following pre-determined events that are part of the Standard Stress Testing Suite: (a) Interest rate shifts. State Street will test for the impact of shifts in interest rates in multiple ways. First, State Street will apply changes in various interest rates equally across all points on the yield curve. In addition, State Street will perform “non-parallel” interest rate testing in which, for example, State Street will assume that long-term rates increased more than short-term rates or that mid-term rates shifted while long- and short-term rates remain fixed. (b) Increase in shareholder redemptions. State Street will perform tests in which it assumes that a certain number of shares are being redeemed at their stable net asset value at a time when the net asset value is, for example, $0.9975 and then measure the resulting impact on net asset value for remaining shareholders. State Street will also perform a combined test measuring the impact of shareholder redemptions and interest rate shifts. (c) Downgrades in, and defaults of, securities. Securities downgrades typically occur when credit spreads are widening. State Street will perform tests measuring the impact of credit spreads widening and narrowing. In addition, State Street will assume that individual securities in a Portfolio’s investment portfolio have defaulted and determine the default events that will cause a Portfolio to “break a buck.” (d) Comparative shifts in yields. State Street will measure the impact of widening and narrowing yields against various industry-standard benchmarks.
Standard Stress Testing Suite Services. State Street will provide stress tests based on State Street’s Standard Stress Testing Suite (described below). Testing will be performed daily, weekly, monthly or quarterly as the Fund instructs State Street. State Street risk specialists will be available to assist the Fund in interpreting stress test results. State Street will stress test the Portfolio’s investment portfolio based on the following pre-determined events that are part of its Standard Stress Testing Suite: (a) Interest rate shifts. State Street will test for the impact of shifts in interest rates in multiple ways. First, State Street will apply changes in various interest rates equally across all points on the yield curve. In addition, State Street will perform “non-parallel” interest rate testing in which, for example, it would assume that long-term rates increased more than short-term rates or that mid-term rates shifted while long- and short-term rates remain fixed. (b) Increase in shareholder redemptions. State Street will perform tests in which it assumes that a certain number of shares are being redeemed at $1.00 per share at a time when the net asset value is, for example, $0.9975 and then measure the resulting impact on net asset value for remaining shareholders. State Street will also perform a combined test measuring the impact of shareholder redemptions and interest rate shifts.

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