Regulatory Alerts2013-08-05
General Guidance for Conducting On-Site Examination in Banks by Bank of Mongolia
The Bank of Mongolia issued this decree to approve updated general guidance for conducting on-site examinations of banks, replacing the previous sample guidance. The document mandates that the Supervision Department assess banks' compliance, risk profiles, and financial conditions across six key areas including assets, capital adequacy, earnings, liquidity, risk sensitivity, and corporate governance. It further requires banks to provide complete disclosure of financial data and IT access to supervisors, while empowering inspectors to impose administrative sanctions for identified deficiencies.
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