Regulatory Alerts2026-08-20 | Circular 2509Added
Banks, Financial Companies, External Financial Institutions and Financial Intermediation Cooperatives - Additional Information for Opening Foreign Currency Accounts
The Superintendent of Financial Services mandates that deposit-taking institutions provide specific foreign currency exchange rate risk disclosures to resident natural persons and sole proprietorships when opening new foreign currency accounts or notifying existing account holders. The regulation requires the delivery of a standalone document detailing exchange rate risks for new accounts and mandates notification via email or prominent website notice for existing accounts. These modifications to the Financial System Regulation and Control Compilation take effect on October 1, 2026, with a deadline of December 31, 2026, for notifying existing depositors.
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