Regulatory Alerts2016-03-24
Circular No. 2016-01 - Information Obligations Regarding the Risk Central Registry - Update No. I
The Central Bank of the Republic of San Marino issued Circular No. 2016-01 to amend Circular No. 2015-02 by introducing final and transitional provisions for the Risk Central Registry (CR). The update mandates that participating intermediaries begin reporting return flows and client demographic data starting from the March 2016 quarterly survey, while the first information service and non-performing loan reporting will align with subsequent risk position consolidations. Additionally, loss recording rules for sold or written-off credits apply exclusively to losses realized on or after the circular's effective date of 24 March 2016.
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