ILSA Final Guidance

Published: 29th April 2011 by William Webster

It's the 5th May 2011 and I've just received an email from the FSA reminding me that the Individual Liquidity Systems Assessment (ILSA) Finalised Guidance is now available. This may not mean much to you. That's unless you fall under the simplified liquidity regime in the UK. The FSA's guidance is about what they expect to see and the good news is it's a far better document than its predecessors. So what does the FSA expect?

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Related Documents

ILSA Guidance Consultation

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Letter 17th November 2010 to the FSA regarding Guidance consultation Individual Liquidity Systems Assessment (ILSA) - Simplified ILAS BIPRU Firms November 2010.

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On 9th November 2010 the FSA issued proposed guidance on Individual Liquidity Systems Assessment (ILSA) Submission Information. It is a revised version of a document released earlier this year and attempts to clarify what's required. If you are putting together your ILSA the following may help:

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An Individual Liquidity Systems Assessment (ILSA) is something that Simplified ILAS BIPRU Firms must prepare. It explains how liquidity risk is managed. For some firms it's a shock and time and resources can get stretched. Read how one client found the answer.

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Put a bank that has difficulty in raising liquidity in a room with an insurance company that's looking for yield and what do you get?

Asset Liability Management CEO Letter

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On 17th January 2011 the FSA released a "Dear CEO letter" on Asset & Liability Management. So what are the "good practices" that are recommended in order to make your ALM function more effective? Here are 20 of the main points.

Regulation > Consultation Paper 08/22 Strengthening liquidity standards December 2008

31st January 2009

This CP sets out the FSA's plans to reform the liquidity regime. It requires firms to undertake a much more rigorous analysis of their liquidity position. This includes the effect of stressed conditions on their business. The firm will submit what it considers to be an appropriate liquidity buffer to the regulator. The FSA will then decide whether it is sufficient. In determining the buffer the FSA will also assess the firm's systems and management. If these are considered weak the buffer will be increased accordingly. The liquidity buffer can only be held in liquid assets. The FSA's view is that this primarily means Gilts, sovereign debt or central bank deposits. The FSA makes it clear, "The responsibility of adopting a sound approach to liquidity risk management is on firms and their senior management".