New resolution/enforcement Dept. at Central Bank

Business

A new department to handle Resolution and Enforcement is to be set up by the Central Bank (CB) early next year, CB sources told the media on Friday morning.
This was revealed by the CB’s Director of Bank Supervision during an awareness programme on Basel III for journalists and media professionals.
This new department is to be set up in a bid to streamline the enforcement of the legal aspects of bank supervision. The CB is also in the process of amending and upgrading its monetary laws and finance business laws to enable more powers to the CB, they said.
The regulator is to issue a consultation paper next month on the implementation of net stable funding ratio, a longer term structural ratio designed to address liquidity mismatches. (DEC)

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