Regulatory Alerts2006-03-27 | CD-SIBOIF-413-1-MAR27-2006Added · Updated
Norm on the Operation and Processing of Data of the Risk Central
This regulation establishes the operational framework for the Risk Central (CDR), requiring supervised financial institutions to report 100% of their debtor information to mitigate credit risk and ensure data veracity. It defines the roles of the Superintendent, internal audit units, and financial institutions in validating, accessing, and using credit data, while granting clients the right to access their credit reports and request corrections. The rule supersedes Resolution No. CD-SIBOIF-255-1-AGOST20-2003, allowing a transitional period for the continued use of the previous Risk Central Manual until the new system is fully implemented, and imposes monetary sanctions for non-compliance.
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