Regulatory Alerts2024-01-01
Supervisory Benchmark No. 1/2024: Governance Requirements for Non-Performing Credit Servicers
The Czech National Bank issues Supervisory Benchmark No. 1/2024 to mandate comprehensive governance systems for non-performing credit servicers under Section 11 of Act No. 84/2024 Coll. The benchmark requires servicers to implement proportionate internal regulations covering sound administrative and accounting procedures, robust internal controls, anti-money laundering compliance, strict borrower conduct rules, and accessible complaint-handling mechanisms. These systems must ensure transparent risk management, continuous regulatory compliance, and adequate borrower protection while remaining fully aligned with actual operational practices and supervisory standards.
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