Regulatory Alerts2002-09-24 | CD-SIBOIF-218-1-SEPT3-2002Added · Updated
Norm on Extension of the Liquidation Period of a Bank
This regulation restricts the Superintendent of Banks from extending a bank's liquidation period beyond the initial six months mandated by law, except when the privileged creditor, the Central Bank of Nicaragua, specifically requests the delivery of the bank's assets to offset its credit. The rule applies when the book value of the liquidating bank's assets is insufficient to pay this privileged debt. The resolution becomes effective upon notification, with publication in the Official Gazette.
More like this from SIBOIF
We email you every new SIBOIF publication the day it's published.
Topics
Share