Comments received on the consultative document "Monitoring indicators for intraday liquidity management"
The Basel Committee on Banking Supervision, in consultation with the Committee on Payment and Settlement Systems, issued a final version of the document Monitoring tools for intraday liquidity management.
This document introduces a new reporting framework that will enable banking supervisors to monitor a bank's management of intraday liquidity risk and its ability to meet payment and settlement obligations on a timely basis. Over time, the tools will also provide supervisors with a better understanding of banks' payment and settlement behaviour.
A number of important changes have been incorporated into the final version of the monitoring tools to reflect responses received to the consultation document issued in July 2012. In particular, the reporting burden on banks has been reduced by:
(i) removing one of the tools that was proposed in the consultative document;
(ii) simplifying a number of the earlier data requests; and
(iii) removing the requirement to report the impact of stress scenarios on a routine basis.
Furthermore, the scope of application of the reporting regime has been narrowed to apply only to internationally active banks, with discretion available to national supervisors to apply the tools more widely as appropriate.
The implementation date for the new regime has been set for 1 January 2015 to coincide with that of the Liquidity Coverage Ratio, but customer banks have been offered a concession to defer implementation until 1 January 2017 with the agreement of their local supervisor if they encounter data availability difficulties with their correspondent bank(s).
The set of seven quantitative monitoring tools in the new framework will complement the qualitative guidance on intraday liquidity management set out in the Basel Committee's 2008 Principles for Sound Liquidity Risk Management and Supervision.
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