The Clearing House Association submitted a joint-trade industry working paper to the BCBS Working Group on Liquidity regarding implementation challenges, outstanding issues and recommendations regarding the Basel Committee monitoring tools for intraday liquidity management. The paper highlights the need for cross-border dialogue on implementation alongside standardization of data and definitions across the industry internationally, noting that such dialogue between the BCBS, national authorities and the industry is the only way of minimizing areas of divergence.

In order to further help foster global consistency the paper also provides suggestions on standardizing definitional terms for the monitoring of intraday liquidity and offers recommendations on ways to better ensure global transparency and consistency in implementation. The joint-trades offer to coordinate a colloquium to discuss the issues addressed above as well as potential interaction between the monitoring tools and other ongoing regulatory reform issues.