Regulatory Alerts2017-04-11
Financial Institutions (Liquidity Risk Management) (Amendment) Regulations 2012
The Central Bank of Seychelles issued these 2012 regulations to amend the existing liquidity risk management framework for financial institutions. The amendments expand applicability to licensed banks, holding companies, and banking groups while updating the definition of liquid assets and replacing prescribed reporting forms with Central Bank-determined formats. By repealing specific subregulations and all existing schedules, the regulations grant the Central Bank greater flexibility in setting reporting requirements and enforcement standards.
[19th June 2012] Supplement to Official Gazette S.I. 38 of 2012 FINANCIAL INSTITUTIONS ACT, 2004 (Act 14 (~l2004) Financial Institutions (Liquidity Risk Management) (Amendment) Regulations, 2012 In exercise ofthe powers confened by section 69(a) ofthe Financial Institutions Act, 2004, the Central Bank makes the following Regulations1. These Regulations may be cited as the Financial Institutions (Liquidity Risk Management) (Amendment) Regulations, 2012. 2. The Financial Institutions (Liquidity Risk Management) Regulations, 2009 are amended as follows- (a) in regulation 2, by repealing in the interpretation of " liquid assets" under item (c) the words "domestic banks" and substituting therefor the words "banks licensed in Seychelles"; (b) in regulation 3 by repealing subregulation (1) and substituting there for the following - "( 1 )These Regulations shall apply to banks licensed by the Central Bank under section 6 of the Act, holding company or banking group as required by the Central Bank." (c) in regulation 9- (i) in subregulation (1 ),by repealing the brackets and number (1); 309 Citation Amendment of S.1. 22 01"2009
310 Supplement to Official Gazette [19th June 2012] (ii) in subregulation (1) by repealing the words "the Return L 1, contained in Schedule 1" and substituting therefor the words "a report in such fOlm as may be determined by the Central Bank"; (iii) by repealing subregulation 9(2); (d) by repealing the Schedules; MADE this 15th day of June, 2012. CAROLINE AB EL GOVERNOR CENTRAL BANK OF SEYCHELLES