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48. (1)

Liquidity requirement

The Central Bank shall issue liquidity requirements that require licensed financial institutions and licensed financial holding companies to hold adequate and appropriate forms of liquidity.

(2) Each licensed financial institution and licensed financial holding company shall comply at all times with the liquidity requirements issued by the Central Bank.

49. (1)

Limit on exposures

Except with the approval of the Central Bank and subject to such terms and conditions as the Central Bank may determine a licensed financial institution shall not directly or indirectly, incur exposures to: (a) any person; (b) any member of a borrower group; or (c) any borrower group, so that the total value of the exposures in respect of such person, member or group, is at any time more than twenty-five per cent of the aggregate amount of the licensed financial institution's capital base, unless prior approval is obtained from the Central Bank. (2) The limitation specified in subsection (1) shall not apply to transactions that represent loans to a Participating Government, or to the boards, agencies, or local government bodies of a Participating Government which are guaranteed by the Participating Government.

(3) In applying subsection (1), where the Central Bank determines that the interests of two or more persons are connected, the total indebtedness of the persons shall be aggregated and deemed to be the indebtedness of a single person.

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