Regulatory Alerts2020-02-03 | 13188Central Bank of Lebanon Circular No. 542 amending Decision No. 12713 regarding IFRS 9
The Central Bank of Lebanon issued Circular No. 542 to amend Decision No. 12713, which implements International Financial Reporting Standard No. 9 (IFRS 9). The amendment adds a provision to Article 6 of the original decision, requiring banks to exceed the expected credit losses calculated for their investment portfolios in Lebanese Lira and foreign currencies. This requirement applies specifically for the years 2019 and 2020 based on the systematic calculations outlined in Appendix No. 6 of Decision No. 6939.
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