Regulatory Alerts2017-09-30
Circular No. 2017-01 - Method for Determining Contributions to the Deposit Guarantee Fund
The Central Bank of the Republic of San Marino issued Circular No. 2017-01 to establish the methodology for calculating contributions to the Deposit Guarantee Fund in compliance with EU Directive 2014/49/EU. The regulation mandates that contributions be determined using a formula incorporating protected deposits, a risk-based corrective factor, and a correction coefficient to ensure internal redistribution without altering the total fund amount. Participating banks are required to submit their first contribution base report by March 31, 2017, referencing data from December 31, 2016.
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