This manual explains how banks can comply with the requirements of Circular Number 33/2015 - Regulations re Liquidity at Banks. It must be read in conjunction with these Regulations.

Banks fulfill an important role in the economy by providing maturity transformation (borrow short term and lend long term). The aim of these liquidity regulations is to ensure that banks have a robust liquidity risk management and governance process in place to mitigate this imbalance.

It also ensures that banks are holding sufficient liquid assets to withstand a liquidity stress for a reasonable period of time.

This manual follows the structure of the Regulations and is set out in three parts:

1. 1) Qualitative requirements;
2. 2) Quantitative requirements;
   1. A – Eligible Liquid Assets Ratio (ELAR)
   2. B – Advances to Stable Resources Ratio (ASRR)
   3. C – Liquidity Coverage Ratio (LCR)
   4. D – Net Stable Funding Ratio (NSFR)
3. 3) Reporting requirements

These three parts cover the key requirements of liquidity risk management and governance in banks and form the basis of the regulations.

Note this Manual will remain a working document and under constant review throughout the period of the LCR transition period.