Likviditetsdækningen

Likviditetsdækningen, often translated as liquidity coverage ratio (LCR), is a key regulatory measure within the banking sector. It was introduced by the Basel Committee on Banking Supervision as part of the Basel III reforms, designed to ensure that banks have sufficient high-quality liquid assets to survive a significant stress scenario over a 30-day period. The ratio is calculated by dividing a bank's stock of unencumbered high-quality liquid assets (HQLA) by its total net cash outflows over a 30-day period. HQLA typically includes assets like cash, central bank reserves, and certain government bonds that can be easily and quickly converted into cash with little or no loss of value, even in times of market stress.

The denominator, total net cash outflows, represents the difference between expected cash outflows and expected cash inflows over the 30-day stress period. Outflows can include customer deposits, maturing wholesale funding, and drawing on credit and liquidity facilities. Inflows are generally limited to contractual payments from loans and other assets. Regulators require banks to maintain an LCR of at least 100%, meaning they must hold enough liquid assets to cover their projected net cash outflows for the specified stress period. A ratio above 100% indicates a buffer.

The LCR aims to improve the banking sector's short-term resilience to liquidity risks. By ensuring banks can meet their obligations during a crisis, it helps prevent liquidity shortfalls from escalating into broader financial instability. It encourages banks to manage their liquidity risk more proactively and to hold more liquid assets, which are generally considered safer but may offer lower returns compared to less liquid investments.