CBS Says Commercial Banks Should Develop Recovery Plans

Sudanhorizon – Hala Hamza
Informed sources have revealed to Sudanhorizon that the Central Bank of Sudan (CBS) has directed commercial banks to develop a recovery plan according to specific criteria.
The sources revealed that the plan includes measures that banks must take to restore their financial position should it become unstable or deteriorate. It also said the banks should update the recovery plan at least annually, or after any changes in the legal or regulatory structure, or any other fundamental changes that affect the plan.
According to the sources, the recovery plan includes banks analyzing how and when they can progress towards meeting the plan’s requirements and identifying assets that are expected to be eligible for use as collateral.
The plan focuses on a range of economic stress test scenarios relevant to the banks’ specific circumstances, including issues within the financial system.

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