Regulatory Alerts2019-10-15
Added · Updated
Circular dated October 13, 2019 regarding amending customers’ bank investments accounts
The Central Bank of Egypt updates definitions and limits for single customer exposures and connected parties, requiring banks to apply consolidated limits including all financial subsidiaries except insurance companies. The definition of exposure is expanded to include 50% of unused portions of non-cancellable commitments with original maturities over one year and 20% for those with maturities of one year or less. Banks are granted a six-month period to align their positions with these new requirements.
Topics
Share