Regulatory Provisions for the Implementation of the Accounting Framework for Savings and Credit Cooperatives

Superintendence of Banks and Other Financial Institutions

OFFICE OF THE SUPERINTENDENT OF BANKS AND OTHER FINANCIAL INSTITUTIONS. MANAGUA, JANUARY SIXTEEN, TWO THOUSAND SIXTEEN. TWO IN THE AFTERNOON.

CONSIDERING

I
That on October 14, 2025, the Monetary and Financial Board issued the "Norm for the Authorization and Regulation of Savings and Credit Cooperatives," contained in Resolution CDMF-XXXVII-1-25.

II
That the aforementioned norm empowers the Superintendent of Banks and Other Financial Institutions to establish regulatory provisions deemed necessary for the implementation of said norm.

III
That on December 1, 2025, the Superintendent of Banks and Other Financial Institutions issued the "Regulatory Provisions for Savings and Credit Cooperatives," contained in Resolution SIB-OIF-XXXIII-691-2025, which establishes that for the registration of their operations, they will use the Accounting Framework approved by the Superintendence.

That in accordance with the considerations set forth above.

In exercise of its powers,

HAS ISSUED

The following,

Resolution SIB-OIF-XXXIV-036-2026

REGULATORY PROVISIONS FOR THE IMPLEMENTATION OF THE ACCOUNTING FRAMEWORK FOR SAVINGS AND CREDIT COOPERATIVES

FIRST: Object and Scope.

• This resolution aims to approve the Accounting Framework for Savings and Credit Cooperatives, hereinafter referred to as the Accounting Framework, which consists of a uniform accounting recording system for Savings and Credit Cooperatives, allowing the financial statements they prepare to be presented in a homogeneous manner and adequately reflect their financial situation, equity, and management results. The Accounting Framework is contained in the Annex of this resolution, being an integral part of it.

SECOND: Prohibitions.- While there is no express authorization from the Superintendence, Savings and Credit Cooperatives shall not carry out the following operations:

a) Financial Derivative Instruments b) Purchase and Sale of Credit Portfolios

Likewise, Savings and Credit Cooperatives may only carry out operations permitted by law or regulation, and must comply with the respective procedures when the law or regulation indicates that any operation requires the authorization of the Superintendent.

THIRD: Responsibilities of the Board of Directors.- The Board of Directors of operating Savings and Credit Cooperatives shall have, among others, the following responsibilities:

a) Approve the implementation plan for the accounting framework; b) Approve changes or adjustments to their manuals, policies, operational procedures, internal control models, and other topics related to the Accounting Framework; c) Guarantee the human, technological, financial, and other resources necessary for the implementation of the Accounting Framework; and d) Ensure that the implementation activities of the Accounting Framework are carried out in a timely and proper manner, to ensure compliance with what is established in this resolution.

FOURTH: Conversion Adjustments.- The adjustments generated in the first-time application of the Accounting Framework for operating Savings and Credit Cooperatives and registered as "Conversion Adjustments" may only be recognized as Accumulated Surplus when they have been realized (all cash flows have been disposed of, received, or paid).

FIFTH: This resolution shall enter into force from the date of its publication. Publish on the website of the Superintendent of Banks and Other Financial Institutions.

Lic. Luis
Superintendent of Banks and Other Financial Institutions

9 Km 7 Sur Highway, Managua, Nicaragua.
Postal Box 7826
Email: siboif@gob.ni www.siboif.gob.ni
(505) 2298 2100 c
(505) 7826 2900 m