Regulatory Alerts2021-10-21
Principles for the Management of Credit Risk
The Guernsey Financial Services Commission endorses the Basel Committee's Principles for the Management of Credit Risk and expects banks to account for them. The regulator mandates that banks adopt these principles in a manner relevant and proportionate to their specific business activities, particularly regarding credit function staff training. Compliance will be assessed during on-site credit reviews, with specific briefing provided beforehand to outline visit objectives.
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