Regulatory Alerts2018-09-11 | CD-SIBOIF-1072-1-SEP11-2018Added · Updated
Norm Amending Article 5 of the Standard on the Establishment of Countercyclical Provisions
The Board of Directors of the Superintendence of Banks and Other Financial Institutions (SIBOIF) amended Article 5 of the Standard on the Establishment of Countercyclical Provisions to define the calculation and proration of the initial countercyclical provision fund over a period of up to four years. The amendment grants the Superintendent the authority to temporarily suspend or reactivate the establishment of this fund, with suspended periods excluded from the total duration. These provisions entered into force upon notification of the resolution.
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