CBUAE announces more measures in economic support scheme

CBUAE announces more measures in economic support scheme

UAE - Mubasher: The board of the Central Bank of the UAE (CBUAE) has added more measures in the Targeted Economic Support Scheme (TESS) to enable the banking sector to support the economy amid coronavirus (COVID-19).

Under the new measures, the threshold of two prudential ratios, comprising the net stable funding ratio (NSFR) and the advances to stable resources ratio (ASRR), will be reviewed to ease the requirements for banks' structural liquidity position.

The relaxation of NSFR and ASRR, which ensure the funding of long-term assets by stable resources, will provide banks with flexibility in managing their balance sheets.

These measures will be applied to NSFR which is mandatory for the five largest