Regulatory Alerts2012-06-30
Regulation No. 2012-01: Update III to Regulation No. 2007-07 and Update I to Regulation No. 2011-03
The Central Bank of the Republic of San Marino issued Regulation No. 2012-01 to implement Update III to the Savings Collection and Banking Activity Regulation and Update I to the Financing Concession Activity Regulation. The amendments introduce a formal definition for restructured credits, establish stricter solvency and organizational requirements for banking entities, and adjust risk weighting factors for non-performing loans and non-financial investments. Additionally, the regulation sets specific compliance deadlines for existing financial companies and mandates the publication of consolidated regulatory texts.
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