Regulatory Alerts2010-01-01
Regulation (NAP) - Central Credit Risk System
The Central Bank of São Tomé and Príncipe issued this Permanent Application Regulation to establish the operational framework for its Central Credit Risk System (SCRC), mandating authorized banks to report credit operations exceeding Dbs 4,000,000 monthly with accurate client identification, risk classifications, and guarantee data. The regulation assigns exclusive responsibility to participating banks for timely data submission, correction, and confidentiality, while granting clients the right to access their records and request rectifications within ten days. It further defines reporting deadlines, system access protocols, cost recovery mechanisms, and penalties for non-compliance to mitigate systemic credit risk and protect depositors.
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