Regulatory Alerts2017-10-05 | 12688Central Bank of Lebanon Circular No. 476: Amendments to Decision No. 7493 and Decision No. 7776
The Central Bank of Lebanon issued Circular No. 476 to amend Decision No. 7493 regarding financial operations and Decision No. 7776 concerning lending and investment activities. The amendments repeal specific articles and replace regulatory text to mandate the application of International Financial Reporting Standards, specifically IFRS 9, for financial instruments. These changes require banks to rigorously assess classification, valuation, and stress testing scenarios to ensure transparency and financial stability.
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