Regulatory Alerts2021-10-05 | NBB_2021_20Added · Updated
Practical rules for the application of Article 36bis of the Royal Decree of 23 September 1992 on the annual accounts of credit institutions, investment firms and management companies of undertakings for collective investment
This Circular establishes practical rules for applying Article 36bis of the Royal Decree of 23 September 1992, as amended by the Royal Decree of 29 August 2021, regarding the accounting treatment of interest rate derivatives for credit institutions. It defines eligibility criteria, governance requirements, and documentation standards for micro-hedging and macro-hedging transactions, including specific provisions for securitisation transactions. Institutions holding prior derogations must apply for Bank authorisation by 31 March 2022 to continue applying specific accounting rules after the derogation regime ends on 31 December 2022.
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