Regulatory Alerts2021-01-25 | Circular No. 2 of 2021Amendments to Circular No. 4 of 2018 on Guidelines for Licensed Banks Adopting SLFRS 9
The Central Bank of Sri Lanka has amended Circular No. 4 of 2018 to update accounting guidelines for licensed banks adopting SLFRS 9. The amendment inserts Guideline 2.5(c), permitting a minimum Loss Given Default of 10 percent when computing expected losses for the 2021 financial year. This change addresses current exceptional circumstances and aligns regulatory practices with the latest International Sovereign Bonds budget proposal.
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