Likviidsusrisku

Likviidsusrisku is a financial risk describing the possibility that an entity cannot meet its short‑term obligations as they come due, without incurring unacceptable losses. It encompasses both the ability to sell assets quickly (market liquidity risk) and the ability to obtain funding as needed (funding liquidity risk). The concept is relevant to banks, investment funds, corporations, and other institutions.

In practice, liquidity risk becomes material when markets or funding sources dry up, especially under stress. It is influenced by maturity mismatches, asset illiquidity, overreliance on a narrow set of funding providers, and sudden changes in investor or counterparty behavior. The consequences can include forced asset sales at steep discounts, higher financing costs, impaired operations, and heightened regulatory scrutiny.

Measurement and management approaches vary by sector. Banks commonly monitor liquidity coverage ratio (LCR) and net stable funding ratio (NSFR), while other institutions use cash-flow projections, liquidity gap analysis, and regular stress testing. Management strategies focus on maintaining a buffer of high-quality liquid assets, diversifying funding sources, keeping access to committed credit lines, and implementing contingency funding plans. Regulatory frameworks, notably Basel III, have formalized liquidity risk requirements for banks and shaped best practices across the financial sector.

Beyond banking, liquidity risk affects corporate treasuries and investment funds, influencing capital allocation, asset choice, and risk budgeting. Effective governance, transparent reporting, and proactive scenario planning are essential to mitigate likviidsusrisku.