Regulatory Alerts2016-03-31
Circular No. 97: Ratio of Foreign Currency Loans to Foreign Currency Liabilities
The Bank of the Republic of Haiti issued Circular No. 97, effective January 1, 2001, requiring commercial and savings banks to maintain a maximum ratio of 50% between foreign currency loans and foreign currency liabilities. Banks must calculate this ratio using amounts converted to US dollars, report compliance monthly within 15 days, and provide necessary documentation for inspections. Non-compliance results in daily penalties calculated as one-tenth of one percent of the excess amount, with additional fines for failure to provide information or submit reports.
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