Regulatory Alerts2022-11-17 | CD-SIBOIF-1345-1-NOV17-2022Norm Reforming Article 8 of the Regulation on Deposit and Investment Limits
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1345-1-NOV17-2022 to amend Article 8 of the Regulation on Deposit and Investment Limits. The reform establishes a global maximum limit of 50% of the capital adequacy base for aggregate investments in foreign time deposits and securities to mitigate concentration risk. Financial institutions must adjust existing portfolios exceeding these new limits by maturity and submit a compliance report to the Superintendent within five business days of the resolution's notification.
Share