Regulatory Alerts2023-02-14 | CD-SIBOIF-1360-1-FEB14-2023Norm on Purchases and Sales of Credit Assets
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1360-1-FEB14-2023 to regulate the purchase and sale of credit assets by Nicaraguan financial institutions. The regulation establishes comprehensive definitions, general compliance guidelines, and specific authorization requirements for transactions, including substantial sales and dealings with related parties. It mandates strict documentation, board approvals, and debtor notifications while repealing the previous 2008 norm to ensure adherence to international accounting standards and risk management protocols.
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