Guidance

1. An Authorised Person should in its notification clearly explain:
a. the reasons for not meeting the LCR Requirement;
b. measures that have been taken and will be taken to ensure it reverts to meeting its LCR Requirement as soon as possible; and
c. its expectations regarding the potential duration of the situation.
2. An Authorised Person that makes a notification should discuss with the Regulator what, if any, further steps it should take to deal with the situation.