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Consultation on the Standard of Sound Practice on Liquidity Risk Management and Internal Liquidity Adequacy Assessments
The Bank of Jamaica has issued a consultation on a draft Standard requiring Deposit-Taking Institutions to implement robust liquidity risk management frameworks and conduct periodic Internal Liquidity Adequacy Assessments. The Standard mandates that Boards of Directors approve risk appetites and oversee liquidity adequacy, while senior management operationalizes controls including stress testing, contingency funding plans, and high-quality liquid asset buffers. Designed to align with Basel III principles, the framework applies proportionally to local institutions and includes a twelve-month transitional period for full compliance.
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