Regulatory Alerts2017-09-07 | 29577Added · Updated
Large Exposures to Correspondent Banks
The Central Bank of Trinidad & Tobago exempts licensed financial institutions from administrative fines for overnight breaches of large exposure limits under Sections 42(1) and 43(1) of the Financial Institutions Act, provided the exposure arises from correspondent banking with an investment-grade bank, results from unexpected client activity, and is resolved by the next business day. Licensees must immediately notify the Central Bank in writing within one business day and rectify the breach within the same timeframe, submitting supporting documentation for both actions.
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