Regulatory Alerts2017-09-12 | 29564Added · Updated
Basel II Implementation Project
The Central Bank of Trinidad and Tobago requires all financial institutions licensed under the Financial Institutions Act, 2008, to review, revise, and re-submit their Basel II implementation project plans by January 31, 2016. These revised plans must be board-approved, identify a Senior Manager as project champion, and detail specific steps for data collection, IT architectural design, data mapping, and validation, along with resource requirements and timelines. The "Go Live" reporting date for Basel II is extended from January 2017 to July 2017, with institutions failing to meet this new deadline potentially facing higher capital charges.
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