Regulatory Alerts2016-11-01
Regulation No. 2016-03 — Miscellanea of targeted revision interventions to current supervisory provisions
The General Director of the Central Bank of the Republic of San Marino issued Regulation No. 2016-03 to consolidate interpretative guidelines, introduce extensions, and harmonize sectoral supervisory rules. The regulation amends various existing regulations, including those concerning the management of non-performing loans, the application of the 5E8 methodology for credit risk, and the calculation of own funds requirements. It also updates provisions related to large exposures, liquidity coverage ratios, and the reporting obligations of financial institutions to ensure alignment with evolving regulatory frameworks.
THE GENERAL DIRECTOR OF THE CENTRAL BANK OF THE REPUBLIC OF SAN MARINO HAVING REGARD TO Law 17 November 2005, No. 165 and in particular Article 39 which grants the Central Bank of the Republic of San Marino the power to issue measures containing binding and general provisions; HAVING REGARD TO the Statute of the Central Bank of the Republic of San Marino approved by Law 29 June 2005, No. 96 and in particular Article 30, paragraph 3 of the aforementioned Statute, according to which the acts of the Central Bank in matters of supervision, deliberated by the Supervisory Coordination, are issued by the General Director; CONSIDERING the opportunity to consolidate at the regulatory level the interpretative guidelines already expressed as well as to introduce extensions or explanatory norms; CONSIDERING the need to harmonize the analogous disciplines contained in the various sectoral regulations as well as to update certain supervisory provisions as a result of subsequent changes to the reference regulatory framework; HAVING REGARD TO the deliberations of the Supervisory Coordination and the Board of Directors by which the text of Regulation No. 2016-03 named “Miscellanea of targeted revision interventions to current supervisory provisions” was approved; ISSUES the attached Regulation No. 2016-03 which enters into force on 1 November 2016. San Marino, 28 October 2016 Signed: THE GENERAL DIRECTOR Lorenzo Savorelli
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