UAE Central Bank ramps up TESS scheme to support banking sector

UAE Central Bank ramps up TESS scheme to support banking sector

The Board of the Central Bank of the UAE (CBUAE) has decided to add on additional measures within the Targeted Economic Support Scheme (TESS) to shore up the capacity of the banking sector.

These measures consist into reviewing the existing thresholds of two prudential ratios: the Net Stable Funding Ratio (NSFR) and the Advances to Stable Resources Ratio (ASRR), by temporarily relaxing the requirements for the structural liquidity position of banks, official news agency WAM reported, citing a press statement issued by the bank.

The changes affect