A few international banks are actually engaged in promoting this business. The Bank of Mauritius stands ready to support such initiatives. A drop in GBC deposits would deprive the country of foreign exchange inflows for the financing of the current account deficit. The Bank had feared that a drop in GBC deposits would adversely impact on the liquidity positions of banks.
A large scale drain of liquidity, if unmatched by sufficient liquid assets, generally leads to a crisis. The Bank conducted stress test to assess the impact of a potential sudden Global Business deposits flight on the banking industry. The stresstest revealed that, in a worst case scenario, banks have adequate liquid assets to meet sudden withdrawal of GBC deposits.