LIQUIDITY RISK MANAGEMENT. Tier Description Annual Fee (per Fund) Tier 1 All Funds holding < 50 securities $ 2,000 Tier 2 All Funds holding 50-500 securities $ 3,000 Tier 3 All Funds holding > 500 securities $ 4,000 Form N-LIQUID preparation and filing $2,500 per filing Note: Each Fund will be designated as a specific “tier” upon the commencement of the Liquidity Risk Management service. An annual review will be performed to certify the appropriate classifications are applied for the subsequent 12 month period. The annual review will occur at the end of each calendar year and be effective on the first of January each year. Any Fund launches will be reviewed at inception to ensure the appropriate “tier” is applied to the new Fund.
LIQUIDITY RISK MANAGEMENT. Tier Description Annual Fee (per Fund) Tier 1 All Fund of Fund and In-Kind ETFs $1,000 Tier 2 All Funds holding < 50 securities $2,000 Tier 3 All Funds holding 50-500 securities $3,000 Tier 4 All Funds holding > 500 securities $4,000 Note: Each Fund will be designated as a specific "tier" upon the commencement of the Liquidity Risk Management service. An annual review will be performed to certify the appropriate classifications are applied for the subsequent 12 month period. The annual review will occur at the end of each calendar year and be effective on the first of January each year. Any Fund launches will be reviewed at inception to ensure the appropriate "tier" is applied to the new Fund.
LIQUIDITY RISK MANAGEMENT. The Subadviser agrees to assist with the liquidity classifications and such other duties that may reasonably be delegated to a subadviser under the Fund’s liquidity risk management program when implemented in accordance with Rule 22e-4 under the 1940 Act.
LIQUIDITY RISK MANAGEMENT. (1) Within sixty (60) days of the date of this Agreement, the Board shall revise, implement and thereafter ensure Bank adherence to a comprehensive formal liquidity risk management policy. Refer to OCC Bulletin 2010-13, “Interagency Policy Statement on Funding and Liquidity Risk Management.” The Bank’s liquidity risk management policy shall be written and shall address, at a minimum, the following requirements:
LIQUIDITY RISK MANAGEMENT. (1) Within ninety (90) days, the Board shall:
LIQUIDITY RISK MANAGEMENT. (1) The Board shall immediately ensure liquidity risk management practices are strengthened. Such actions must include, but are not limited to:
LIQUIDITY RISK MANAGEMENT. An annual complex fee of $237,500 will apply for Liquidity Risk Management Services. Form N-LIQUID preparation and filing will incur a fee of $2,500 per filing, if required, in addition to the annual complex fee. The annual complex fee of $237,500 is based on the requirement to provide Liquidity Risk Management Services to 95 Funds. Any new fund launch (or closure) will increase (decrease) this fee. A review will occur at the end of each calendar year to certify the appropriate fee for the subsequent 12 month period.
LIQUIDITY RISK MANAGEMENT. (1) By October 31, 2022, the Board shall submit to the ADC for review and prior written determination of no supervisory objection an acceptable written Liquidity Risk Management Program (Liquidity Program) for the Bank, covering at least a two-year period. This Liquidity Program shall provide for the identification, measurement, monitoring, and control of the Bank’s liquidity risk exposure, and shall emphasize the importance of cash flow projections, diversified funding sources, a cushion of highly liquid assets, and a formal, well- developed contingency funding plan as primary tools for measuring and managing liquidity risk. Refer to the “Liquidity” booklet of the Comptroller’s Handbook. In addition to the general requirements set forth above, the Liquidity Program shall include, at a minimum:
LIQUIDITY RISK MANAGEMENT. The Bank manages its liquidity on a prudent basis to ensure that a sufficiently high liquidity ratio relative to the statutory minimum is maintained throughout the year. The average liquidity ratio of the Bank for the years ended 31st December, 2003, 2004 and 2005 was well above the 25% minimum ratio set by the Banking Ordinance. The Asset and Liability Committee (“ALCO”) regularly reviews the Bank’s current loan and deposit mix, funding requirements and projections and maturity mismatches, and monitors the liquidity ratio on an ongoing basis. Appropriate liquidity limits are set and sufficient liquid assets are held to ensure that the Bank can meet all short-term funding requirements. The Bank’s funding comprises mainly deposits of customers, certificates of deposit and medium term notes issued. The issuance of certificates of deposit and medium term notes helps lengthen the funding maturity and reduce the maturity mismatch. Short-term interbank deposits are taken on a limited basis. The Bank is a net lender to the interbank market. Liquidity risk is managed by the Bank’s high proportion of liquid assets, including interbank assets (which are diversified by type, maturity and source), money market assets and short-term customer loans. For longer-term assets, the Bank has significant sources of longer-term funds, including debt securities, certificates of deposit and notes, money market borrowings and longer-term customer deposits. The Bank conducts regular stress tests on its liquidity position. Market Risk Management Market risk is the risk of losses in assets, liabilities and off-balance sheet positions arising from movements in market rates and prices. Generally, the Bank’s market risk is associated with its positions in foreign exchange, debt securities and equity securities and derivatives in the trading book. Market risk exposure for different types of transactions is managed within risk limits and guidelines approved by ALCO and the Treasury Risk Committee. The overall risk limits comprise sub-limits for each of the different risk categories which are, interest rate, foreign exchange and equity prices. Exposures are managed and monitored by a combination of risk management techniques including position limits, principal or notional amounts, sensitivity limits, stop-loss limits and Value-at-Risk (“VaR”). All market- risk trading positions are subject to daily mark-to-market valuations which are monitored and managed by the Treasury Division. Indepen...
LIQUIDITY RISK MANAGEMENT. (1) Within sixty (60) days, the Board shall develop, adopt, and thereafter ensure compliance with a comprehensive liquidity risk management policy (“Liquidity Policy”) that incorporates prudent risk management standards as set forth in the “Liquidity” booklet of the Comptroller’s Handbook (June 2012) and OCC Bulletin 2010-13, Interagency Policy Statement on Funding and Liquidity Risk Management, dated March 22, 2010. The Liquidity Policy shall emphasize the importance of cash flow projections, diversified funding sources, stress testing, a cushion of liquid assets, and a formal, well-developed contingency funding plan as primary tools for measuring and managing liquidity risk. In addition to the general requirements set forth above, the Liquidity Policy shall address the weaknesses in the Bank’s liquidity risk management identified in the most recent XXX and, at a minimum, shall:
