Regulatory Alerts2020-12-28 | ASFI/CC-8840/2020Added · Updated
ASFI Circular Letter CC-8840 2020 of December 28, 2020
Multiple Banks, SME Banks, Development Financial Institutions, and Housing Financial Entities must capitalize one hundred percent of their net profits from the 2020 fiscal year. This mandatory equity strengthening applies after the establishment of pertinent legal and regulatory reserves. The directive is issued under Article 425 of Financial Services Law No. 393 to support economic reactivation and preserve financial system stability.
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