Regulatory Alerts2024-11-05 | CD-SIBOIF-1474-3-NOV5-2024Norm on the Update of Social Capital of Risk Rating Agencies
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1474-3-NOV5-2024 to update the minimum social capital requirement for risk rating agencies. The resolution increases the mandatory capital from C$2,147,000.00 to C$2,175,000.00, effective upon publication in the Official Gazette. Agencies with authorized capital below this new minimum must update and fully pay the difference within seven calendar days following their next Ordinary Shareholders' General Assembly.
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