Regulatory Alerts2026-09-08
Added
Circular 06-26 — Modification and clarification on the determination of the Capital Adequacy Ratio (CAR) for Securitization Process Administrators, contained in Annex XII of the Instruction Manual approved by Circular 05-2025
This circular clarifies and modifies the methodology for determining the denominator of the Capital Adequacy Ratio (CAR) for Securitization Process Administrators. For Autonomous Patrimonies in fixed income securitization processes, the current amount of securitized or Trust securities is the outstanding balance as of the reporting period's closing date. For variable income processes, it is the equity presented in the financial statements for the reported period. These criteria must be observed when completing Annex XII of the Instruction Manual and apply to the CAR report in the Information Requirement Manual. The circular comes into effect on the business day following its publication.
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