Regulatory Alerts2015-10-12
Instruction No. 2015-I-24 of October 12, 2015 amending Instruction No. 2015-I-08 on the standard approach to liquidity risk
The Prudential Control and Resolution Authority (ACPR) amends Instruction No. 2015-I-08 to extend the application of the standard approach to liquidity risk to branches of credit institutions established in France with headquarters outside the EU/EEA. This amendment adds Article 8, which subjects these specific branches to the instruction's provisions until June 30, 2016. The instruction enters into force on January 1, 2016, following consultation with the Prudential Affairs Advisory Commission.
PRUDENTIAL CONTROL AND RESOLUTION AUTHORITY
Instruction No. 2015-I-24 amending Instruction No. 2015-I-08 regarding the standard approach to liquidity risk
The Prudential Control and Resolution Authority, Having regard to the Monetary and Financial Code, in particular Articles L. 511-41 and L. 611-1; Having regard to the Order of May 5, 2009, relating to the identification, measurement, management and control of liquidity risk; Having regard to the Order of September 11, 2015, relating to the prudential regime for branches established on French territory by credit institutions having their registered office in a State that is not a member of the European Union nor a party to the Agreement on the European Economic Area; Having regard to Instruction No. 2015-I-08 regarding the standard approach to liquidity risk; Having regard to the opinion of the Prudential Affairs Advisory Commission dated September 18, 2015, Decides:
Article 1 Instruction No. 2015-I-08 regarding the standard approach to liquidity risk, cited above, is amended as follows:
1° An Article 8 is added:
"Article 8 Branches of credit institutions referred to in I of Article L. 511-10 of the Monetary and Financial Code are subject to the provisions of this Instruction until June 30, 2016."
Article 2 This Instruction enters into force on January 1, 2016.
Paris, October 12, 2015
The President of the Prudential Control Authority and Resolution, [Robert OPHÈLE]