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ARTICLE · 25 SEPTEMBER 2021

CBN Issues Basel III Implementation Guidelines For Banks In Nigeria

Andersen in Nigeria
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On 2nd September 2021, the Central Bank of Nigeria (CBN) issued a Circular to all banks in Nigeria titled Basel III Implementation by all Deposit Money Banks ("the Circular").

NigeriaFinance and Banking
Andersen in Nigeria
Andersen in Nigeria
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Summary

On 2nd September 2021, the Central Bank of Nigeria (CBN) issued a Circular to all banks in Nigeria titled Basel III Implementation by all Deposit Money Banks ("the Circular"). The Circular aims to inform all banks of the issuance of Guidelines for the implementation of the Basel III standard which is a voluntary global regulatory framework that addresses bank capital adequacy, stress testing, and market liquidity risk.  

Details

The Basel Accords ("Basel I, II, III") are sets of regulations for the Banking sector established by the Basel Committee on Banking Supervision (BCBS) which is a committee of banking supervisory authorities established by the central bank governors of various jurisdictions. The purpose of these "Accords" is to improve the regulatory framework for the banking industry worldwide.

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