PURPOSE OF THE COMMITTEE
ASSET AND LIABILITY COMMITTEE
The purpose of the Committee is to assist the Board in fulfilling its oversight responsibilities related to asset and liability management, liquidity and capital management, as well as interest rate risk and market risk.
COMPOSITION OF THE COMMITTEE
The Asset and Liability Committee is composed of a minimum of three independent directors, as well as the President of the Bank, the President of the Bank Holding Company, the Chief Financial Officer, the Chief Credit Officer and the Executive in charge of Commercial Lending.
The Asset and Liability Committee will meet on a quarterly basis.
The Asset and Liability Committee responsibilities shall include:
- To review and recommend changes as appropriate to the Bank’s Asset and Liability management, liquidity and investment policies.
- To oversee the Bank’s actions relating to interest rate risk, liquidity risk, as well as investments, loans and deposits.
- To oversee the Bank’s investment portfolio strategies.
- To oversee the Bank’s contingency funding strategies and program.