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  • Roles and Responsibilities

    • LM-10.2.5

      The CFP must contain clear policies and procedures enabling a bank's management to make timely and well-informed decisions, communicate the decisions effectively, and execute contingency measures swiftly and proficiently. To achieve this, the roles and responsibilities, and internal procedures for liquidity stress management must be clearly delineated. These must cover:

      (a) The authority to invoke the CFP and the establishment of a formal 'crisis management team' to facilitate internal coordination and communication across different business lines and locations and decision-making by senior management in a stress situation;
      (b) Clear escalation and prioritisation procedures detailing what actions to take, who can take them, and when and how each of the actions can and must be activated;
      (c) Names and contact details of members of the team responsible for implementing the CFP and the locations of team members; and
      (d) The designation of alternates for key roles.
      August 2018