Regulatory Alerts2018-03-05 | 29592Added · Updated
Basel II/III Implementation-Parallel Reporting
The Central Bank of Trinidad and Tobago mandates a six-month parallel reporting period commencing in April 2018, requiring licensees and financial holding companies to submit both Basel I and Basel II/III capital adequacy returns. Institutions must submit individual reports monthly and consolidated reports quarterly, with the first dual submission due by April 28, 2018, for data as of March 2018. The directive prohibits any alteration to the embedded validation rules in the new reporting template and requires entities to report any issues encountered during completion.
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