Regulatory Alerts2007-10-24 | CD-SIBOIF-505-2-OCTU24-2007Added · Updated
Norm on Publication of Overdue Loans of Directors, Officials and Related Parties of Financial Institutions
This regulation establishes the procedure for publishing overdue loans of directors, officials, and related parties of financial institutions in a national circulation newspaper. It defines substantial credits and overdue balances, setting thresholds of US$25,000 for individual authorization, US$50,000 for collective authorization, and US$5,000 for reportable overdue balances with delays exceeding thirty days. Financial institutions must report this information monthly to the Superintendent, who verifies the data against the Risk Central and publishes the confirmed details if discrepancies are found or if institutions fail to respond within three business days.
More like this from SIBOIF
We email you every new SIBOIF publication the day it's published.