Regulatory Alerts2011-05-11 | CD-SIBOIF-676-2-MAY11-2011Added · Updated
Norm on Financing Granted by General Warehouses and Assets Acquired in Recovery
This regulation establishes the conditions, limits, and risk management requirements for financing operations granted by General Warehouses to depositors, as well as the accounting and provisioning rules for assets acquired through credit recovery. It mandates that documented credits be limited to 75% of the estimated value of goods and converted to secured credits or fully provisioned if unpaid, while assets received in recovery must be valued and provisioned based on specific timelines for movable and immovable property. The rule also defines the board's responsibilities for credit policies and aligns the treatment of recovered assets with IFRS 5 and IFRS 13 standards.
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