Regulatory Alerts2000-01-26
Added · Updated
COBAC Regulation R-99/01 Establishing Procedures for Updating the Chart of Accounts for Credit Institutions
COBAC Regulation R-99/01 delegates authority to the President of the Banking Commission to issue instructions modifying or creating sub-accounts in the chart of accounts for credit institutions. It further empowers the Secretary General to use 'PCEC letters' to clarify account contents, correct errors, and make minor modifications, and 'CERBER letters' to correct data collection errors and implement changes resulting from Commission acts. Any modifications to the chart of accounts that fall outside these delegated powers must be enacted through formal regulations of the Banking Commission.
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