Regulatory Alerts2020-12-29 | 240/04Rule on appointing and activities of the Temporary Administrator of the Commercial Bank
The National Bank of Georgia issued Decree №240/04 to establish procedures for appointing and overseeing temporary administrators during early intervention measures. The Rule mandates that the NBG alone selects administrators who meet strict fit and proper criteria, granting them powers to manage bank operations and restore financial stability for up to one year. It further defines the administrator's accountability to the NBG, liability protections, and the conditions under which they may be dismissed.
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