UAE Central Bank unveils further measure to boost banks’ capacity

  • Date: 08-Aug-2020
  • Source: Arabian Business
  • Sector:Economy
  • Country:UAE
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UAE Central Bank unveils further measure to boost banks’ capacity

Central Bank of the UAE said this easure will support the implementation of the already adopted TESS measures worth AED256 billion

The Central Bank of the UAE has announced a further measure that it says will further enhance the capacity of the banking sector to support the economy, and give banks “enhanced flexibility in managing their balance sheets”.

The measures, which come under the Central Bank's Targeted Economic Support Scheme (TESS) that was announced in March this year, will review 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”.

The central bank said the additional measure will encourage banks to strengthen the implementation of the TESS and support their