Draft Guideline on the Management of Market Risk

May 3, 2021
CIRCULAR LETTER TO:
Licensees and FHCs under the Financial Institutions Act, 2008 Insurers registered under the Insurance Act, 2018 Trinidad and Tobago Unit Trust Corporation Trinidad and Tobago Mortgage Finance Limited, Home Mortgage Bank Agricultural Development Bank National Insurance Board Copied to:
Bankers Association of Trinidad and Tobago
Association of Trinidad and Tobago Insurance Companies Institute of Chartered Accountants of Trinidad and Tobago Caribbean Actuarial Association Trinidad and Tobago Securities and Exchange Commission REF: CB-OIFI-947/2021 DRAFT GUIDELINE ON THE MANAGEMENT OF MARKET RISK The Central Bank of Trinidad and Tobago (Central Bank\Bank) in keeping with its mandate to the ensure safety and soundness of the financial system has developed the draft guideline entitled “Guideline on the Management of Market Risk”. The Guideline outlines minimum standards for the management of market risk and encourages improved marketrisk management practices by institutions under the Bank’s regulatory purview. Notably, the principles set out in the Guideline accord with international best practices and legislative requirements and are underpinned by the principle of proportionality. Institutions are invited to provide feedback on the Guideline which is appended and can be accessed also on the Bank’s website at https://www.central-bank.org.tt/core￾functions/supervision/banking-sector-draft-consultation-papers and https://www.central￾bank.org.tt/core-functions/supervision/insurance-sector/draft-and-consultation-papers. Comments and queries should be submitted electronically to GuidelinesComments@central-bank.org.tt by June 30th, 2021. We look forward to your timely feedback. Yours sincerely, Patrick Solomon INSPECTOR OF FINANCIAL INSTITUTIONS Cen t r al Ban k o f Tri n i d ad an d To bag o Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-CBTT (2288), 235-CBTT (2288); Fax: (868) 612-6396 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt