On May 7, FIJ CB revised requirements for management of forex risk.
FIJ CB revised Banking supervision policy statement (BSPS) no: 4 - minimum requirements for management of foreign exchange risk for licensed commercial banks.
This policy is applicable to all banks licensed under the Banking act 1995.
Outline of Revisions
Raised the limit on single foreign currency net open positions to 12.5% of total capital in Fiji or FJD 30mn, whichever is less, from 12.5% of total capital in Fiji or FJD 15mn.
Plus, raise limit on overall foreign currency net open positions to 25% of total capital in Fiji or FJD 30mn, whichever is less, from 25% of total capital in Fiji or FJD 15mn.
Effectiveness
The revised policy shall be effective from Jun. 1, 2025.
