Regulatory Alerts2016-11-03
Central Bank of Seychelles (Credit Information System) (Amendment) Regulations 2014
The Central Bank of Seychelles, in consultation with the Minister of Finance, Trade and Investment, issued these 2014 regulations to amend the Credit Information System Regulations of 2012. The amendments require participating institutions to update negative credit information when facilities become non-performing or are paid, extend reporting periods from one or two months to five years, and shift data submission frequencies from monthly to yearly. Additionally, the regulations standardize key terminology by replacing references to applicants and guarantors with customers and requestors across multiple regulatory clauses.
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