Regulatory Alerts2021-03-23
Central Bank of Belize (Amendment) Act No. 3 of 2021
The Parliament of Belize enacted this amendment to the Central Bank of Belize Act to empower the central bank with emergency liquidity tools during unusual economic or systemic crises. The legislation repeals the existing government advance limit and introduces new sections authorizing the Bank to establish emergency programs, including asset purchases, credit facilities, and security discounting, subject to Board regulations and prior Ministerial approval. These emergency measures must strictly target systemic liquidity provision rather than rescuing specific failing entities, while mandating sufficient collateral to protect taxpayers and ensuring orderly program termination.
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