Norm on Bank Bonds

Resolution No. CD-SIBOIF-537-1-JUN11-2008
Date: June 11, 2008

NORM ON BANK BONDS

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

In exercise of its powers,

And in accordance with what is established in Article No. 10, items 1 and 8 of Law 316, "Law of the Superintendence of Banks and Other Financial Institutions" and its reforms,

ISSUES

The following norm,

NORM ON BANK BONDS

Resolution No. CD-SIBOIF-537-1-JUN11-2008

First: The Superintendent of Banks is authorized to establish, under circumstances that warrant it from a financial and prudential standpoint and with due justifications resulting from the impact caused by the conditions agreed upon in the payment of bank bonds derived from the intervention and liquidation processes of banking entities, a regime for the respective holding entities thereof, with respect to accounting norms on the accounting of investments, liquidity matching, and interest rate risk.

Second: For the foregoing, the respective holding entities of the aforementioned bonds must present a report to the Superintendent incorporating the necessary actions to be taken, aimed at remedying any possible mismatch.

Third: All measures adopted in relation to this norm, the Superintendent of Banks must inform the Board of Directors of the Superintendence. The report must be recorded in the minutes of the respective session.

Fourth: This norm shall enter into force upon its notification, without prejudice to its publication in the Official Gazette.

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

URIEL CERNA BARQUERO
Secretary of the Board of Directors SIBOIF