Regulatory Alerts1994-03-14
Instruction No. 94-08 of March 14, 1994, on the Accounting of Operations Related to Popular Savings Plans, as Amended by Instruction No. 2009-02 of June 19, 2009 (Consolidated Version)
The Banking Commission issued Instruction No. 94-08, consolidated with amendments from 2009, to mandate specific accounting treatments for Popular Savings Plans (PEP). It requires credit institutions to record PEP deposits under the 'Special Regime Savings Accounts' element in the SITUATION table and to classify accrued interest as an interest expense in the CPTE_RESU table. The instruction further specifies that unvested interest portions must be recorded as regularization accounts on the liability side of the SITUATION table and explicitly repeals the previous 1990 instructions.
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