{"id":42312983,"date":"2025-12-22T12:54:57","date_gmt":"2025-12-22T11:54:57","guid":{"rendered":"https:\/\/www.fma.gv.at\/?page_id=42312983"},"modified":"2026-07-20T14:03:47","modified_gmt":"2026-07-20T12:03:47","slug":"interest-rate-stress-tests-of-investment-funds","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/investment-funds-and-investment-fund-managers\/stress-tests-asset-management\/interest-rate-stress-tests-of-investment-funds\/","title":{"rendered":"Interest rate stress tests of Investment Funds"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><div class=\"wp-block-cover\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"270\" class=\"wp-block-cover__image-background wp-image-11754002 size-large\" alt=\"\" src=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/07\/Solvabilitaetsrisiken-Cover-640x270.jpg\" data-object-fit=\"cover\" srcset=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/07\/Solvabilitaetsrisiken-Cover-640x270.jpg 640w, https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/07\/Solvabilitaetsrisiken-Cover-320x135.jpg 320w, https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/07\/Solvabilitaetsrisiken-Cover-1536x647.jpg 1536w, https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/07\/Solvabilitaetsrisiken-Cover.jpg 1700w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim\" style=\"background-color:#5c6f92\"><\/span><div class=\"wp-block-cover__inner-container is-layout-constrained wp-block-cover-is-layout-constrained\">\n<p class=\"has-text-align-center has-medium-font-size wp-block-paragraph\">Interest rate stress tests of Investment Funds<\/p>\n<\/div><\/div><div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div><p class=\"wp-block-paragraph\">The Austrian Financial Market Authority (FMA) conducted interest rate stress tests in 2025 to identify interest rate sensitivity and the results interest rate risks for all Austrian undertaking for collective investment in transferable securities (UCITS) as of 30.06.2025. Portfolio data from investment funds statistics forms the basis for the stress test.<\/p><p class=\"wp-block-paragraph\"><strong>Result of the Interest Rate Shock (3 per cent interest rate increase)<\/strong><\/p><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/12\/SusFi-Zinsschock-600x480.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"480\" src=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/12\/SusFi-Zinsschock-600x480.jpg\" alt=\"\" class=\"wp-image-24078476\" srcset=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/12\/SusFi-Zinsschock-600x480.jpg 600w, https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/12\/SusFi-Zinsschock-300x240.jpg 300w, https:\/\/www.fma.gv.at\/wp-content\/uploads\/2025\/12\/SusFi-Zinsschock.jpg 1250w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><figcaption class=\"wp-element-caption\">Source: FMA interest rate stress tests of Investment Funds as at 30.06.2025<\/figcaption><\/figure>\n<\/div><p class=\"wp-block-paragraph\">The interest rate risk remains stable across the market as a whole. At investment fund management company (KAG) level, the effects of an interest rate increase differs depending on the individual business and investment policy. However, it is apparent that the range has decreased from the results. Interest rate risk has increased among KAGs with a lower than average historic interest rate risk exposure, while reducing among KAGs with a higher than average interest rate risk.<\/p><p class=\"wp-block-paragraph\">The FMA plans to monitor the risk situation further and repeat the interest rate stress test in a risk-based form on a regular basis.<\/p><p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Austrian Financial Market Authority (FMA) conducted interest rate stress tests in 2025 to identify interest rate sensitivity and the &#8230;<\/p>\n","protected":false},"author":20,"featured_media":11754017,"parent":42312515,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"landing-page.php","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-42312983","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Interest rate stress tests of Investment Funds - 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