The Basel Committee on Banking Supervision has today published two reports assessing the implementation of the Net Stable Funding Ratio (NSFR) and the large exposures (LEX) framework in the Kingdom of Saudi Arabia.
Overall, the NSFR regulations and the LEX framework in the Kingdom of Saudi Arabia are found to be "compliant" with the Basel standards. This is the highest of the four possible assessment grades.
These publications form part of the Committee's Regulatory Consistency Assessment Programme (RCAP), a series of reports on Basel Committee members' implementations of Basel standards.
The Basel Committee plans to complete its review of the implementation of the NSFR and the LEX framework for all member jurisdictions by September 2020.
The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for regular cooperation on banking supervisory matters. Its 45 members comprise central banks and bank supervisors from 28 jurisdictions.
This comes as recent figures published in the 54th annual report of the Saudi Arabian Monetary Authority (SAMA) show the strength of the country's financial sector.
