Regulatory Alerts2020-11-18 | CBE6.1Added · Updated
CBE Regulation Book 6.1 - Concepts Items Of Financial Position Data And Basis Of Its Preparation
Egyptian banks must submit audited monthly financial position data and asset analysis tables to the Central Bank of Egypt by the eighth day of the following month, signed by two authorized managers or one if explicitly authorized. The data must be prepared according to the Central Bank's approved accounting standards, with foreign branch balances aggregated into specific asset and liability lines and internal inter-branch accounts netted. Foreign currency balances are revalued monthly using the weighted average exchange rate published by the Foreign Exchange Issuing Room on Reuters, and banks must provide a separate memorandum explaining significant changes compared to the previous month.
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