Regulatory Alerts2024-09-01
Circular No. 13/99 Modifying Circular No. 13/94 on Portfolio Classification
The Bank of the Republic of Burundi issued Circular No. 13/99 to operationalize its refinancing policy by mandating banks and financial institutions to classify their portfolios into Categories A, B, and C based on specific financial criteria, payment histories, and mobilization approvals. The circular establishes detailed eligibility requirements for short-, medium-, long-term, and social housing clients, while granting institutions the autonomy to self-classify credits as they are granted provided they strictly adhere to the prescribed rules. Furthermore, it imposes monthly and quarterly reporting obligations for updated classifications and reclassifications, and formally annuls Circular No. 13/94 of September 2, 1994.
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