Regulatory Alerts2018-05-28 | 12814Central Bank of Lebanon Circular No. 493 Amending Decision No. 7156 on Lebanese Banks' Deposits, Investments, and Loans at Foreign Affiliated Institutions
The Central Bank of Lebanon issued Circular No. 493 to amend Decision No. 7156, imposing new regulatory requirements on Lebanese banks regarding their financial activities abroad. The amendment mandates that banks obtain prior approval from the Central Bank and its supervisory committee for any direct or indirect deposits, investments, or mandatory reserves held at foreign affiliated institutions. Additionally, the Central Bank reserves the authority to require banks to establish specific provisions against these foreign exposures.
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