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  "documentTitle": "Lehman Brothers | Investor Event Presentation Deck | 65 slides",
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  "authorName": "Lehman Brothers",
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  "presentationDate": "2007-08-01 00:00:00",
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  "notes": "This slide outlines the risk management framework for stress testing at Lehman Brothers.",
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      "text": "These analyses are conservative because they do not allow for re-hedging or selling down a position either actively or through the automatic execution of existing stop-losses",
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      "text": "Hypothetical scenarios due to shocks that have some probability of occurrence and are driven by macro fundamental shifts, for example: Liquidity Crunch, Oil price jump, Yield curve steepening, Other ad-hoc hypothetical scenarios",
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      "text": "Re-runs of historical episodes of extreme market moves, for example: 9/11 terrorist attacks, Russia default contagion and LTCM, November 2001 volatile bond market, October 1987 stock market crash",
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      "text": "Analyses of movements in interest rates, stock prices, FX, volatility, etc., are run over a wide range of possible scenarios to determine the impact on the current portfolio of these extreme instantaneous shocks",
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      "text": "We subject both our trading and counterparty portfolio to stress tests",
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      "text": "Stress tests and scenario analyses are performed regularly to evaluate the potential P&L impact on the Firm's portfolio of abnormal yet plausible market conditions",
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