Regulatory Alerts2017-02-16
Added · Updated
Proposed Netting Law 2017
The Central Bank of Bahrain has issued a consultation notice proposing a new Netting Law to replace Resolution No. 44 of 2014 governing close-out netting under market contracts. The proposed legislation will supersede existing regulatory provisions and is currently available for public review on the regulator’s website. All licensed banks are required to submit their electronic feedback, including nil responses, directly to the designated consultation email by February 16, 2017.
Executive Director - Banking Supervision
Central Bank of Bahrain
EDBS/KH/C/04/2017
26<sup>th</sup> January 2017
Chief Executive Officer
All Banks
Manama, Kingdom of Bahrain
Dear Sir,
Consultation: Proposed Netting Law
As part of the CBB’s objective in enhancing its regulatory framework, the CBB is proposing a “Netting Law” that shall replace and supersede Resolution No. (44) of 2014: With Respect to Promulgating a Regulation for Close-Out Netting under a Market Contract, issued by the CBB on December 7, 2014.
The proposed law shall be available on the CBB website (www.cbb.gov.bh) under the “open consultations” section.
The CBB requests all banks to provide their comments, including ‘nil comments’ on this proposed law.
Responses must be sent electronically to “consultation@cbb.gov.bh”, by 16<sup>th</sup> February 2017.
Yours faithfully
Khalid Hamad
ص.ب: ٢٧، المنامة - مملكة البحرين
هاتف: (+973) 17532605 - فاكس: (+973) 17547400
P.O. Box : 27, Manama - Kingdom of Bahrain
Tel: (+973) 17547400 - Fax: (+973) 17532605
website: www.cbb.gov.bh
E-mail: khalid.hamad@cbb.gov.bh
More like this from CBB
We email you every new CBB publication the day it's published.