EY webinar on CBSL direction 13 & 14 of 2021 – understanding the regulatory requirements

The Central Bank of Sri

Lanka (CBSL) directions on classification, recognition and measurement of credit facilities and other financial assets will come into effect from 01st January 2022 onwards. It’s paramount for bankers to understand the regulatory expectations in this regard. New directions were introduced with the objective of harmonizing the regulatory framework with Sri Lanka Financial Reporting Standards-SLFRS 9 Financial Instruments.

The regulator has emphasised the importance of having a comprehensive credit risk management framework while stipulating its main components. Accordingly, Licensed Commercial Banks (LCBs) are expected to have a framework covering all aspects of credit lifecycle of its financial assets which includes, policy on classification, potential risk, under performing loans and write-offs, guidelines on computing Expected Credit Losses (ECL) & disclosures.

A high-profile deliberation on this crucial theme conducted by Manil Jayesinghe, Country Managing Partner, Ernst & Young, Sri Lanka and Maldives and Rajith Perera, Partner,

Financial Accounting Advisory Services of Ernst & Young, Sri Lanka to be held on 22nd November 2021 where they will discuss regulatory expectations combined with Financial Reporting Risk Management challenges faced by banks.

Economists, banking and financial service professionals and others decision makers interested are invited to join for further deliberations on this crucial theme webinar with Ernst and Young, , on 22nd November 2021 from 09.00 am to 12.00 pm. For registrations contact Thilini Perera on Thilini. perera1@lk.ey.com or Tel. +94 770623529.