Regulatory Alerts2017-03-30
Isle of Man Financial Services Authority Guidance on Interest Rate Risk Management for Deposit Takers
The Isle of Man Financial Services Authority issues guidance requiring Class 1(1) and Class 1(2) deposit takers to implement prudent interest rate risk management policies approved by their Boards. Regulated entities must monitor risk using a residual maturity mismatch approach, report quarterly via form SR-3B, and conduct stress testing for interest rate shocks of up to 500 basis points. The document outlines specific requirements for policy formulation, internal systems, and quantitative measurement methodologies to ensure the safety and soundness of banks operating in the jurisdiction.
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