Regulatory Alerts2024-10-07
Added · Updated
Circular to Credit Institutions on the Amendments to Banking Rules BR/20 and BR/24
Banking Rule BR/20 is amended by adding Part V to implement the EBA Guidelines on Overall Recovery Capacity, while Banking Rule BR/24 is amended in paragraph 18 to implement the EBA Guidelines on the benchmarking of diversity practices. Credit institutions must conduct the diversity benchmarking exercise once every three years, starting from 2025 with a reference date of 31 December 2024. The revised rules come into force with immediate effect and prevail in case of any conflict with existing provisions.
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