Regulatory Alerts2020-01-01
Minimum Requirements for the Management of Market Risk for Licensed Financial Institutions
The Reserve Bank of Fiji issued Banking Supervision Policy Statement No. 19 to mandate that licensed financial institutions establish comprehensive market risk management frameworks addressing interest rate and foreign exchange risks. The policy requires institutions to develop Board-approved policies and strategies, while clearly defining the roles and responsibilities of the Board, senior management, the Asset and Liability Committee, and independent risk functions. Compliance is enforced through strict reporting obligations, including immediate notification of material incidents and regular submission of policies to the regulator, with non-compliance subject to sanctions under the Banking Act 1995.
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