Implement ELA provisions and enhance monitoring
with respect to financial institutions that have
overdrawn balances at the CBL as of end-September
2019 by:
• Assessing the institutions’ eligibility to benefit from the ELA by assessing the institutions’ liquidity and solvency position as outlined in the ELA regulation;
• Instituting collateral for the institutions’ overdraft;
• Instituting relevant government guarantees as outlined in the ELA regulation; and
• Putting in place a liquidity monitoring system for institutions that have overdrawn balances at the CBL.
To be completed within 5 days of the Board meeting