Regulatory Alerts2011-11-23
Rules on Stress Testing
The Saudi Arabian Monetary Agency has issued immediate Rules on Stress Testing requiring all licensed banks to fully realign their existing stress testing frameworks by 30 June 2012. Financial institutions must subsequently submit specified regulatory data to the Agency starting with the half-year ending on that deadline. These measures standardize risk assessment protocols and enhance regulatory oversight across the domestic banking sector.
�aubi �rabian ,fflonetarp �gencp Banking Supervision Dept. 4) The enclosed Rules shall come into force with immediate effect and banks are required to fully realign their existing stress testing frameworks with these Rules by 30 June 2012. Furthermore, they are required to submit the information specified under the Rules to the Agency starting from the half-year ending 30 June 2012. � Encl.: As above Dr. Abdulrahman Al-Hamidy Vice Governor Page 2 of 2 P. 0. Box 2992 - Riyadh 11169, Saudi Arabia - Tel.: 01-463 3000 - Telex 404390 SJ - Fax 01-466 2119