Regulatory Alerts2017-03-05 | CD-SIBOIF-987-5-MAR7-2017Added · Updated
Norm Reforming Article 50 of the Standard on Credit Risk Management
The Superintendence of Banks and Other Financial Institutions amended Article 50 of the Standard on Credit Risk Management to require financial institutions to identify natural or legal persons linked to commercial credit debtors. This obligation applies to credits granted in national or foreign currency with amounts equal to or greater than the equivalent of US$100,000.00. Institutions must complete the information in Annexes 2-A, 2-B, and 2-C regarding related parties for these specific exposures. The resolution entered into force upon its notification on March 7, 2017.