Regulatory Alerts2012-04-14
Added · Updated
INSTRUCTION N°005 ON THE FINANCING OF FIXED ASSETS FOR SAVINGS AND CREDIT COOPERATIVES AND MICROFINANCE INSTITUTIONS
This instruction requires Savings and Credit Cooperatives and Microfinance Institutions to finance their retained fixed assets using prudent own funds, with retained fixed assets capped at 50% of prudent own funds. Existing cooperatives must reduce their ratio from 100% to 75% and then to 50% at the end of each civil year following the instruction's signature, calculated on a non-consolidated basis for networks. Non-compliance subjects entities to legal and regulatory sanctions, and the instruction entered into force on the date of its signature.
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