Regulatory Alerts2023-07-12
Central Bank of Libya Circular No. 14/2022: Instructions for Calculating the Liquidity Coverage Ratio
The Central Bank of Libya (CBL) Circular No. 14/2022, dated December 19, 2022, mandates all banks operating in Libya to implement instructions for liquidity risk management and calculating the Liquidity Coverage Ratio (LCR) in accordance with Basel III principles. Banks are required to establish mechanisms for liquidity risk management, measure net funding needs, manage market access, develop contingency plans, and manage foreign currency liquidity. The CBL further requires banks to submit the results of their LCR calculations to the Banking and Currency Supervision Department during the first quarter of 2023.
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