New Telegraph

CBN releases guidelines on BASEL III implementation

The Central Bank of Nigeria (CBN), yesterday, released the BASEL III/Reporting Templates for implementation by deposit money banks (DMBs) in the country. In a letter to DMBs posted on its website, the apex bank listed the BASEL III/ Reporting Templates for implementation to include, Guidelines on Regulatory Capital/Reporting Template for Group Capital Adequacy and Reporting Template for Solo Capital Adequacy; Guidelines on Leverage Ratio/ Reporting Template for Leverage Ratio; Guidelines on Liquidity Coverage Ratio/ Reporting Template for Liquidity Coverage Ratio; Guidelines on Liquidity Monitoring Tools/ Reporting Template for Liquidity Monitoring Tools; Guidelines on Large Exposures / Reporting Template for Large Exposures and Guidelines on Liquidity Risk Management and Internal Liquidity Adequacy Assessment Process (ILAAP).

According to CBN, the implementation of the guidelines will commence with a parallel run from November this year for an initial period of six months, which may be extended by another three months, “subject to milestones achieved in the supervisory expectations.” It said: “All banks shall submit monthly returns not later than five working days after the end of the preceding month, with effect from November 2021.” The regulator further stated that during the parallel run, the BASEL III guidelines will operate concurrently alongside the existing BASEL II guidelines, adding that “subject to the successful conclusion of the parallel run, the BASEL III guidelines shall become fully effective.”

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