The Board of the Central Bank of the UAE (CBUAE), has decided on additional measures within the Targeted Economic Support Scheme (TESS), launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy.
A press statement issued by the Bank said that 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.
This step comes as an additional measure encouraging banks to strengthen the implementation of the TESS and support their impacted customers in overcoming the repercussions of COVID-19 pandemic.
Continue read: https://www.gulftoday.ae/business/2020/08/08/uae-central-bank-unveils-more-measures-to-shore-up-banks
