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Banks in Luxembourg and around the world have prioritized liquidity risk and risk exposure and have taken steps to improve the quality of their risk management. Risk in a banking context covers not only credit risk, market risk, operational risk and interest rate risk, but also liquidity risk.
The Committee of European Banking Supervisors (CEBS), composed of high-level representatives from the banking supervisory authorities and central banks of the European Union, was established in 2004 in order to advise the European Commission on banking policy issues and to promote cooperation and convergence of supervisory practice across the European Union. In June 2008 the CEBS published the second part of its advice to the European Commission on liquidity risk management, including...
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