Regulatory Alerts2026-04-07
Issuance of Circular No. 2026-01 on Updates Regarding Financial Statements
The Central Bank of the Republic of San Marino issued Circular No. 2026-01 to update financial statement regulations following a public consultation process. The final text fully adopts simplified requirements for the notes to the financial statements and supervisory reporting to accommodate banking sector requests, while deferring prudential rules for system securitization until impact assessments are complete. This approach allows the simplified rules to apply to the upcoming 2025 financial statements while ensuring adequate time for prudential impact verification.
07 Apr 2026 < 1 min read
The Central Bank of the Republic of San Marino announces that it has issued, pursuant to Articles 30, 39, and 41 of Law No. 165 of 17 November 2005 (hereinafter referred to as the LISF) and following the public consultation procedure , the Circular No. 2026-01 on updates regarding financial statements .
Compared to the draft under consultation, the adopted measure fully confirmed all simplifying provisions regarding financial statements, particularly concerning the content of the notes to the financial statements and their related supervisory reporting, thereby accommodating the requests of the banking sector. Meanwhile, the provisions concerning the prudential regime for system securitization, to be introduced as an addition to Circular No. 2022-01, have been deferred to a forthcoming regulatory intervention, once the exercise of estimating the current and prospective impacts of the measure is completed.
This solution thus allowed for balancing the opportunity to apply the aforementioned simplifications already starting from the upcoming approved financial statements (2025 fiscal year, both individual and consolidated) with the need to conduct verification on the prudential impact projections of the new provisions regarding securitization.