Regulatory Alerts1994-11-17
Instruction No. 13-1994 of November 18
The national financial regulatory authority issued Instruction No. 13-1994 to authorize financial institutions to grant temporary overdraft advances in national currency to cover clients' account shortfalls. This directive formally classifies such advances as "credit granted" for all regulatory purposes while explicitly maintaining the existing prohibition on overdraft balances in current deposit accounts for both residents and non-residents. The measure addresses current economic conditions and banking sector development without altering the foundational restrictions outlined in prior laws and notices.
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