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ARTICLE · 08 APRIL 2021

Intense Regulatory Focus On Liquidity Risk Management Continues

William Fry LLP
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Last month, both the Central Bank and ESMA mandated that fund management companies assess the adequacy of fund liquidity risk management frameworks (LRMFs) in light of adverse findings identified...

European UnionFinance and Banking
Patricia Taylor
Patricia Taylor
James Phelan
James Phelan
Nessa Joyce
Nessa Joyce
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Last month, both the Central Bank and ESMA mandated that fund management companies assess the adequacy of fund liquidity risk management frameworks (LRMFs) in light of adverse findings identified during 2020 supervisory reviews.

Central Bank Mandated Review of LRMFs

On 12 March 2021, the Central Bank published a letter (dated 10 March) issued to certain fund management companies (FMCs) on the findings from the ESMA co-ordinated, NCA review of liquidity risk in corporate bond and real estate UCITS and AIFs.  This review was completed during February - March 2020 and ESMA published review findings on 13 November 2020 (see previous article ESMA Recommends Liquidity Action Items for Funds).

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