Norm on Application of the Single Chart of Accounts for Financial Institutions of the Securities Market to Investment Funds and Securitization Funds

Resolution CD-SIBOIF-559-1-NOV5-2008
Date: November 5, 2008

NORM ON APPLICATION OF THE SINGLE CHART OF ACCOUNTS FOR FINANCIAL INSTITUTIONS OF THE SECURITIES MARKET TO INVESTMENT FUNDS AND SECURITIZATION FUNDS

The Board of Directors of the Superintendence of Banks and Other Financial Institutions,

CONSIDERING

I

That in accordance with Article 6, subsection c), of Law 587, Capital Markets Law, published in La Gaceta, Official Gazette No. 222, of November 15, 2006, it is the authority of the Board of Directors of the Superintendence of Banks and Other Financial Institutions (Superintendence) to establish, with general character, the accounting standards to which the supervised entities must be subject.

II

That Articles 71 and 114 of the aforementioned Law establish that investment funds and securitization funds are constituted as separate estates from the own estates of their respective managing companies; and consequently, it is necessary to specify the accounting provisions to which these companies must be subject regarding the funds they manage.

In exercise of its powers,

HAS ISSUED

The following:

Resolution CD-SIBOIF-559-1-NOV5-2008
NORM ON APPLICATION OF THE SINGLE CHART OF ACCOUNTS FOR FINANCIAL INSTITUTIONS OF THE SECURITIES MARKET TO INVESTMENT FUNDS AND SECURITIZATION FUNDS

Article 1. Application of the Single Chart of Accounts (MUC).- The Single Chart of Accounts for Financial Institutions of the Securities Market, contained in Resolution No. CD-SIBOIF-465-1-FEB7-2007, of February 7, 2007, published in La Gaceta, Official Gazette No. 68, of April 12, 2007, is applicable to investment funds and securitization funds registered in the Securities Register of the Superintendence.

Article 2. Effectiveness. This norm shall enter into effect from its publication in La Gaceta, Official Gazette.

(f) Gabriel Pasos Lacayo (f) V. Molina H. (f) A. Cuadra G. (f) Roberto Solórzano Ch.
(f) U. Cerna B.

URIEL CERNA BARQUERO
Secretary of the Board of Directors SIBOIF