Regulatory Alerts2012-03-22
Control over Issuing of Guarantees by a Banking Corporation
The Supervisor of Banks mandates that banking corporations establish robust procedures and controls for issuing guarantees to manage credit risk and ensure operational integrity. The directive requires management to define guarantee types, approval hierarchies, and rigorous reconciliation processes for both printed and digital formats. Special emphasis is placed on mitigating cyber and fraud risks in digital media by implementing information security, privacy protection, and authentication measures.
Share