Regulatory Alerts2015-06-28
Added · Updated
DOS Circular Letter No. 10: Amendment of DOS Circular Letter No. 03/2015 regarding maintenance of provision against investment in Mutual Fund Units by scheduled banks
The Department of Off-Site Supervision amends the policy for maintaining provisions against potential value reduction in open-ended mutual fund units held by scheduled banks. Banks are required to maintain a provision only if the average purchase price exceeds 95% of the current net asset value; otherwise, no provision is needed. The provision amount is calculated as the difference between the average purchase price and 95% of the current net asset value.
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