FSA: op risk has role to play in managing liquidity


LONDON – The UK Financial Services Authority (FSA) has issued a ‘Dear CEO’ letter to chief executives at banks, building societies and investment firms outlining its expectations for systems and controls in liquidity risk management. The missive from the regulator’s managing director of supervision, Jon Pain, says its recipients must reply in writing outlining their compliance with the new requirements by February 12. The requirements were expected, but the supervisor’s approach to them was less

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