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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards

85B. Supplemental provisions to sections 85 and 85A.

(1) In this section -

"liquid assets" has the meaning given by section 85 or 85A, as appropriate in the circumstances;

"maturity mismatch" has the meaning given by section 85A(1);

"stress test", in relation to a credit union, means the analysis of its cash flows under various headings and the placing of such cash flows in pre-determined time periods subject to specified conditions, including monetary limits where appropriate, to estimate the extent to which a credit union may have a maturity mismatch in respect of its assets and liabilities.

(2)

(a) Pending the prescribing by the Bank of minimum liquidity requirements for the purposes of section 85A in respect of a category of credit unions, the liquidity requirements applicable to credit unions under section 85 shall continue to apply to such category of credit unions in respect of matters so prescribed.