In the post-financial crisis world, no European bank can afford to ignore the importance of strong liquidity risk management. During 2011, we will also see this issue move to the center of the regulatory agenda, as European supervisors are beginning to draft the rules for local implementation of the new Basel Committee standards. With this in mind, Ernst & Young surveyed 26 European banks ranging from local, retail banks to international, universal institutions. The results of the survey touch on several issues of strategic significance, including national variations in regulation and banks’ level of preparedness for the new regime.a