as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what is the significance of internal governance in managing liquidity risk?
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internal governance aims to ensure the firm can address daily liquidity obligations and withstand periods of liquidity stress through proper setting and monitoring of liquidity risk tolerance by the board and the development and implementation of a liquidity risk management strategy by senior management.
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