ACC backs Bank of England’s new private markets stress test

Today, the Bank of England (BoE) published its latest Financial Stability report, which confirmed that it will be running a private markets system-wide exploratory stress test (Private Market SWES) in 2026, including several leading ACC members.

AIMA’s Alternative Credit Council helped design the SWES, and we stand ready to support the BoE to ensure that the exercise strengthens informed dialogue between policymakers and market participants.

In response to today's release, Global Head of the Alternative Credit Council, Jiří Król, said: “The Alternative Credit Council welcomes the Bank of England’s announcement of the Private Markets System-Wide Exploratory Scenario (SWES) exercise. With public interest in private markets growing, this exercise offers a timely and constructive way to build a clearer evidence base around how the sector, and other parts of the corporate finance markets, might respond under severe but plausible stress. Leading member firms have voluntarily agreed to participate, demonstrating the industry’s responsible approach to transparency, risk management, and maintaining trust in a rapidly expanding source of financing for the real economy. Having contributed to the design phase, we stand ready to continue supporting the Bank’s work and to ensure that the exercise strengthens informed dialogue between policymakers and market participants.”