9.20 Notification of breach of NSFR Requirement

(1) A Bank must notify the AFSA in writing immediately if it fails to meet, or becomes aware of circumstances that may result in it not meeting, its NSFR Requirement. In the notification the Bank must clearly explain:

• (a) why it ceased to meet, or thinks it may cease to meet, the requirement;
• (b) when it expects to again be able to meet the requirement; and
• (c) what it has done and will do to ensure that it meets the requirement in future, or continues to meet it, as the case requires.

(2) A Bank that gives such a notification should discuss with the AFSA what further steps it should take to deal with the situation.