Regulatory Alerts2019-09-09
Regulation No. 29/2019 on Consolidated Supervision for Banks
The National Bank of Rwanda promulgates Regulation No. 29/2019 to establish consolidated supervision requirements for banks, banking groups, financial conglomerates, and mixed conglomerates. The regulation mandates adherence to prudential limits on capital adequacy, credit concentration, and liquidity, while requiring annual submission of consolidated reports and audited financial statements for related parties and subsidiaries. It further empowers the Central Bank to prescribe higher capital adequacy requirements and corrective measures when institutions fail to meet these consolidated prudential standards.
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