353. When assessing the framework, policies and procedures for liquidity risk management, competent …

When assessing the framework, policies and procedures for liquidity risk management, competent authorities should take into account all of the following criteria:

• a. whether the management body approves policies for managing liquidity risk and discusses and reviews them regularly;
• b. whether senior management is responsible for developing and implementing the policies and procedures for managing liquidity risk;
• c. whether senior management ensures that the decisions of the management body are implemented and actively monitored;
• d. whether the liquidity risk management framework is internally coherent and ensures ILAAP, where available, is comprehensive, and is well integrated into the investment firm’s wider risk management framework; and
• e. whether the policies and procedures are properly defined, formalised and effectively communicated throughout the investment firm.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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