Regulatory Alerts2020-12-29 | 242/04Rule on Developing a Resolution Plan for a Commercial Bank
The National Bank of Georgia issued Decree №242/04 to establish the framework for developing resolution plans for commercial banks to ensure financial stability. The regulation mandates that the National Bank assess bank resolvability, define preferred resolution strategies, and identify impediments related to structure, finances, and information availability. It further requires annual plan reviews and sets a deadline of December 31, 2021, for creating plans for systemically important banks.
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