Regulatory Alerts2012-08-22
Regulation on Bank Unit
The Governor of the Bank of Mongolia issued Decree A-99 to approve the Regulation on Bank Unit, establishing the legal framework for the creation, supervision, and liquidation of banking units. The regulation defines specific categories of bank units, including branches, settlement centers, cash desks, and representative offices, while detailing the prudential criteria and documentation required for their establishment. It further outlines the Bank of Mongolia's authority to issue, suspend, or repeal permissions for domestic and foreign bank units and mandates quarterly reporting and operational control by bank management.
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