Regulatory Alerts2023-10-12 | 24073Added · Updated
Notice – The Financial Institutions Act, CHAP.79:09 Financial Institutions (Capital Adequacy) Regulations 2020
Regulations 18, 19, and 20 of the Financial Institutions (Capital Adequacy) Regulations, 2020 come into force on January 1, 2024. Regulation 20 defines systemically important licensees based on size, interconnectedness, substitutability, and other criteria specified by the Central Bank. The Central Bank must notify affected licensees in writing of any additional capital charges required and their effective dates.
[October 12, 2023] TRINIDAD AND TOBAGO GAZETTE 1995
1634
REPUBLIC OF TRINIDAD AND TOBAGO
THE FINANCIAL INSTITUTIONS ACT, CHAP. 79:09 FINANCIAL INSTITUTIONS (CAPITAL ADEQUACY) REGULATIONS 2020
NOTICE
ISSUED BY THE MINISTER OF FINANCE UNDER REGULATION 2 OF THE FINANCIAL INSTITUTIONS (CAPITAL ADEQUACY) REGULATIONS, 2020
NOTICE is hereby given that Regulations 18, 19 and 20 of the Financial Institutions (Capital Adequacy) Regulations, 2020 shall come into force on January 1, 2024.
For the purpose of Regulation 20, a licensee shall be deemed to be systemically important based on the following criteria:
(a) size;
(b) interconnectedness;
(c) substitutability; and
(d) such other criteria as may be specified by the Central Bank following consultation with the licensees thereon.
Where a licensee is deemed systemically important, the Central Bank shall inform the licensee in writing of the relevant additional capital charge the licensee shall be required to maintain and the date from which the said additional capital charge shall be effective.
Dated this 30th day of September, 2023
C. IMBERT Minister of Finance