Sri Lanka's Licensed Banks come under requirements to implement Recovery plans in order to strengthen crisis preparedness and to enhance their ability to respond effectively to adverse scenarios with the expected rise in sour loans when COVID-19 related moratoriums are expired, the Central Bank (CB) announced today.
"Directions will be issued in due course, providing necessary guidelines. The Central Bank will continue to adapt its supervisory approaches to suit the new normal," Central Bank (CB), Governor, Professor W D Lakshman said.
He revealed this while presenting "the Road Map: Monetary and Financial Sector Policies for 2021 and Beyond."
Further, he also revealed that the CB would introduce a regulatory framework for technology risk management and resilience of license...