Circular No. 2379 — Revokes Indicated Circulars

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REF: Revokes the Circulars indicated.

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October 2, 2026
CIRCULAR No. 2,379
Banks
This Commission, in exercise of its legal powers, especially what is provided in numeral 1 of Article 5 and in numeral 3 of Article 20 of Decree Law No. 3,538, of 1980; in Chapter 12-12 of its Updated Compilation of Rules for banks; and what was agreed by the Commission's Council in Ordinary Session No. 516, of October 1, 2026, has deemed it necessary to issue the following instructions:

Through Circular No. 2,364, of June 26, 2025, modified by Circulars No. 2,366 and 2,371, of July 28, 2025 and July 15, 2026, respectively, it was contemplated to introduce modifications to Chapter 12-12 of the Updated Compilation of Rules for banks, regarding the prohibition of granting credit to directors, agents, and persons related to them, contemplated in Article 84 No. 4 of the General Banks Law.

That, with the deadline for the entry into force of the modifications pending, the Commission has resolved to leave without effect the aforementioned instructions and maintain the provisions of Chapter 12-12 currently applicable, considering that these have had adequate understanding and compliance by the banking industry, providing a consolidated regulatory framework for the application of the cited legal prohibition. With this, the consistency between numeral 2 on the credit limit to related persons by ownership or management of the bank and 4 that prohibits the granting of credit to directors, both of the cited Article 84, is also preserved.

Consequently, Circular No. 2,364, of June 26, 2025, as well as Circulars No. 2,366 and 2,371, of July 28, 2025 and July 15, 2026, respectively, are left without effect.

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[INSERT SIGNATURE IMAGE]
CATHERINE TORNEL LEÓN
PRESIDENT
FINANCIAL MARKET COMMISSION