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5.
For Pillar 2 purposes, SAMA applies its supervisory review process under Pillar 2 on a consolidated basis. This means SAMA’s supervisory assessment of banks’ risk management frameworks, capital and liquidity planning and adequacy will consider the nature and significance of business activities and associated risks of the subsidiaries, which are consolidated and not consolidated and their impact to the local bank and the overall banking group. This is consistent with SAMA’s consolidated supervision objective to ensure that risks within a banking group are adequately captured. In this regard, SAMA may also apply its supervisory discretion in extending the scope of application of other relevant prudential requirements, if warranted.
6.
The bank’s Internal Capital Adequacy Assessment Plan (ICAAP) and its Internal Liquidity Adequacy Assessment Plan (ILAAP) should capture risks arising from consolidated subsidiaries in accordance to SAMA’s ICAAP and ILAAP requirements.
