Regulatory Alerts2023-10-10
Circular to Banks and Financial Institutions No. 2023-05 of October 10, 2023
The Central Bank of Tunisia issued Circular No. 2023-05 to establish the reference framework for implementing consolidated supervision, defining the prudential consolidation scope, consolidation methods, and reporting obligations for banks and financial institutions. The circular mandates the inclusion of specified entities regardless of size, retains others based on a 1% individual or 10% cumulative weight threshold, and requires the equity method for insurance companies alongside existing methods for other entities. Institutions must formalize scope determination and reporting procedures, submit their first consolidated report by December 31, 2023, and comply with updated declaration formats added to Annex I of Circular No. 2017-06.
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