As highlighted at last year’s Industry Seminar, the Commission has been working on changes to the current large exposure regime which has remained largely unchanged since 1994.
The Commission undertook to consult with industry on the proposed changes and has developed a consultation paper entitled “Changes in the Large Exposure Regime”. Banks incorporated in the Bailiwick will be most affected by the proposed changes, but there are also some changes to the regular reporting of large exposures that affect branch banks. For that reason, this paper has been sent to all licensed banks in the Bailiwick.
The closing date for comments is Friday 21 June 2013. Please click here for the Consultation Paper.