Regulatory Alerts2023-02-14 | CD-SIBOIF-1360-2-FEB14-2023Added · Updated
Norm on Reforming Article 5 and Annexes 1, 6A1, 6A2 and Adding Annexes 6A3, 6A4, 6A5, and 7 of the Capital Adequacy Norm
The Superintendent of Banks and Other Financial Institutions of Nicaragua issued Resolution CD-SIBOIF-1360-2-FEB14-2023 to reform Article 5 and specific annexes of the Capital Adequacy Norm. The regulation mandates the deduction of gains from the sale of non-financial assets with financing, gains from transferring foreclosed assets to property, plant, and equipment, and gains from business combinations from capital components. Financial institutions are granted a 60-day period to adapt their systems to apply these prospective changes to their capital adequacy calculations.
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