Regulatory Alerts2020-07-01
Added · Updated
Kenya Deposit Insurance (Amendment) Act, 2013
The Kenya Deposit Insurance (Amendment) Act 2013 introduces critical regulatory frameworks for bank resolution, including the 'exclusion and transfer process' and the 'lesser cost rule' to manage failing institutions. It empowers the Kenya Deposit Insurance Corporation to prioritize subrogated claims and establishes clear liability ranking protocols during resolution processes. Furthermore, the Act enhances governance by refining board appointment criteria and clarifying funding mechanisms to ensure the Corporation has sufficient liquidity to protect depositors and mitigate systemic risk.
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