Resolution No. CD-SIBOIF-650-1-OCT20-2010
Dated 20 October 2010

REFORM STANDARD OF ARTICLE 6 OF THE STANDARD ON CONCENTRATION LIMITS

The Board of Directors of the Superintendency of Banks and Other Financial Institutions,

WHEREAS

I

That Law No. 561, General Law of Banks, Non-Bank Financial Institutions and Financial Groups, hereinafter "General Law of Banks", in article 55 establishes limits on active operations between financial institutions and their related parties. Likewise, article 56 of the same law establishes limits on active operations with non-related parties.

II

That based on the powers conferred by article 3, numeral 13 and article 10, numerals 6 and 8, and the part in fine of the same, of Law No. 316, Law of the Superintendency of Banks and Other Financial Institutions, reformed by Law No. 552, Law of Reforms to Law No. 316, Law of the Superintendency of Banks and Other Financial Institutions;

In use of its powers,

HAS ISSUED

The following:

CD-SIBOIF-650-1-OCT20-2010 REFORM STANDARD OF ARTICLE 6 OF THE STANDARD ON CONCENTRATION LIMITS

FIRST: Reform article 6 of the Standard on Concentration Limits, contained in Resolution No.
CD-SIBOIF-478-1-MAY9-2007, of 9 May 2007, published in the Gaceta, Official Gazette No. 134 of 16 of July 2007, which should be read as follows:

Art. 6. Operations not included.- The following operations shall not be computable for purposes of the concentration limit:

a) Deposits in current account, MMDA/MMSA accounts, savings and time deposits of up to seven (7) days with financial institutions abroad with first-order international rating, as established in the regulations that regulate the matter on deposit and investment limits;

b) Assets covered with liquid guarantees as provided in the regulations that regulate the matter on credit risk management.

SECOND: This standard shall enter into force from its notification, without prejudice to its publication in the Gaceta, Official Gazette. (f) A. Rosales B. (f) V. Urcuyo V. (f) Gabriel Pasos Lacayo (f) F. Reyes B. (f) illegible (Silvio M. Casco Marenco) (f) U. Cerna B. Secretary.

URIEL CERNA BARQUERO
Secretary Board of Directors SIBOIF