Regulatory Alerts2021-03-31
Added · Updated
Circular dated March 31, 2021 regarding extending the period of exempting banks from the application of Clause Two contained in the instructions for concentration ratios in the credit portfolios of the 50 largest clients and related parties issued on January 11, 2016
The Central Bank of Egypt extends the exemption for banks from applying Clause Two of the January 11, 2016 circular regarding concentration limits in the credit portfolios of the 50 largest clients and related parties until the end of December 2021. This extension remains in effect while the Central Bank implements measures to mitigate the impact of the coronavirus pandemic. Banks are required to comply with the decision and continue applying individual and sectoral risk requirements outlined in the April 7, 2019 circular on risk guidelines under Pillar Two of the Basel Accords.