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Thursday, April 18, 2019 06:50PM /
CBN
Following the issuance of Exposure Drafts (EDs) of the
Guidelines for Pillar 2 Risks (Interest Rate Risk in the Banking Book,
Reputational Risk, Credit Concentration Risk, and Business Risk) and Stress
Testing in Q2 2018 and the receipt of comments from stakeholders, the Central
Bank of Nigeria hereby issues the following Final Guidelines:
1. Guidelines on the Management of Credit
Concentration Risk;
2. Guidelines on the Management of Reputational Risk;
3. Guidelines on the Management of Interest Rate Risk
in the Banking Book (IRRBB); and
4. Guidelines on Stress Testing for the Nigerian
Banks.
The essence of the Guidelines is to set out the minimum expectations with respect to the procedures for the identification, measurement, monitoring, reporting, management and assessment of those risks and stress testing by banks in line with the requirements of the Supervisory Review Process.
All banks are hereby required to adopt the above Final
Guidelines with immediate effect (except the one on IRRBB). The guideline on
IRRBB will come into effect in January, 2020. This is to give room for the
development /update of existing infrastructure in respect of IRRBB. The CBN,
however, encourages early adoption to ensure alignment of banks’ practices with
international best practices.
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