Regulatory Alerts2018-12-04 | CD-SIBOIF-1087-6-DIC4-2018Derogation of the Standard on Accounting for Share Investments in Subsidiaries of Banks, Financial Companies, and Shareholding Companies
The Board of Directors of the Superintendence of Banks and Other Financial Institutions (SIBOIF) issued Resolution No. CD-SIBOIF-1087-6-DIC4-2018 to formally repeal the 2001 standard governing the accounting treatment of share investments in subsidiaries by banks and financial entities. This repeal is necessitated because the relevant accounting aspects were already incorporated into the 2017 Standard for the Implementation of the Accounting Framework for Banking and Financial Institutions. The resolution takes effect on January 1, 2019, ensuring regulatory alignment under Nicaraguan banking and finance laws.
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