The duration and asperity of the liquidity break-up over the recent financial crisis of 2007-
2009 has prompted regulators to emphasize the importance of sound liquidity risk
management. In 2013, The Basel Committee on Banking Supervision has developed the
liquidity coverage ratio to promote the short-term resilience of the liquidity risk profile of
banks by ensuring that they have sufficient high quality liquid assets to survive a significant
stress scenario lasting 30 calendar days.