Regulatory Alerts2013-08-13
Regulations on Discounting Promissory Notes in Credit Institutions
Issued by the State Securities Committee and the Central Bank of Azerbaijan, these Regulations establish the legal framework and operational procedures for credit institutions to discount promissory notes. They mandate strict verification of legal and economic validity, specify required documentation, define discount calculation formulas, and permit institutions to set additional risk management conditions in their internal regulations. Credit institutions must comply with Central Bank prudential norms, maintain dedicated promissory note files, and submit quarterly and annual discounting reports to the State Committee for Securities within prescribed deadlines.
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