Regulatory Alerts2002-08-30 | CD-SIBOIF-213-2-JUL31-2002Added · Updated
Norm on the Instruction for Preparing the Sectorization Report
The Superintendence of Banks and Other Financial Institutions of Nicaragua mandates the mandatory use of the Instruction for Preparing the Sectorization Report by all banks, financial institutions, and deposit-taking entities. These institutions must submit monthly reports using Formats I-A and I-B alongside monthly financial statements, and weekly reports using Format II by the next business day. Banks and financial institutions are required to complete the systematic computerized coding of all clients by September 30, 2002, and failure to comply with these provisions or systematic data errors will result in sanctions and fines under the General Law of Banks and Non-Banking Financial Institutions. This norm takes effect upon notification.
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