Draft Financial Institutions (Capital Adequacy) Regulations, 2018

CENTRAL BANK OF TRINIDAD & TOBAGO
Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 4921; 5028; Fax: (868) 627-4696 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

August 3rd, 2018

Circular Letter To All Financial Institutions Licensed under the Financial Institutions Act, 2008

REF: CB-OIFI-2110/2018

DRAFT FINANCIAL INSTITUTIONS (CAPITAL ADEQUACY) REGULATIONS, 2018

The Central Bank of Trinidad and Tobago (“Central Bank”/ “Bank”) has developed the draft Financial Institutions (Capital Adequacy) Regulations, 2018 (“Draft Regulations”) to give legal effect to the revised capital rules set out in the Bank’s consultation document for the implementation of Basel II/III. The Draft Regulations reflect the policy proposals in the Central Bank’s policy paper for the implementation of Phase 1 of the Basel II/ III Capital Accord.

Licensees are therefore invited to provide comments on the Draft Regulations. The Draft Regulations as well as the “Policy Proposals for the Implementation of the Basel II/III Capital Frameworks by the Central Bank of Trinidad & Tobago-Phase 1 (Minimum Capital Requirements) can be accessed on the website of the Central Bank via the following link:- https://www.central-bank.org.tt/core-functions/supervision/basel-ii_iii-implementation.

Comments should be submitted electronically to Baselconsultation@central-bank.org.tt by September 3, 2018.

The Central Bank looks forward to your feedback as we move to conclude this critical last step in our Phase I Basel II/III Implementation plan.

Yours sincerely

[Signature]

Michelle Francis-Pantor
Deputy Inspector - Banks, Non-Banks and Payment Systems Oversight FINANCIAL INSTITUTIONS SUPERVISION DEPARTMENT