Resolution Amending Article 7 of the Standard on Deposit, Investment, and Second-Tier Operations Limits of Banco Produzcamos

Resolution No. CD-SIBOIF-790-2-JUL17-2013
Date: July 17, 2013

STANDARD REFORMING ARTICLE 7 OF THE STANDARD ON DEPOSIT, INVESTMENT, AND SECOND-TIER OPERATIONS LIMITS OF BANCO PRODUZCAMOS

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

CONSIDERING

I

That Article 33 of Law No. 640, Law Creating the Bank for the Promotion of Production (Produzcamos), published in La Gaceta, Official Journal No. 223 on November 20, 2007, states that Produzcamos "shall be subject to the surveillance, supervision, and oversight of the Superintendence of Banks and Other Financial Institutions"; and that the Board of Directors of the Superintendence of Banks and Other Financial Institutions is empowered to issue special standards on "capital adequacy, asset and portfolio classification, credit granting, special supervision, and other areas of regulation specifically applicable to Produzcamos..."

In exercise of its powers;

HAS ISSUED

The following:

Resolution No. CD-SIBOIF-790-2-JUL17-2013
STANDARD REFORMING ARTICLE 7 OF THE STANDARD ON DEPOSIT, INVESTMENT, AND SECOND-TIER OPERATIONS LIMITS OF BANCO PRODUZCAMOS

FIRST: Article 7 of the Standard on Deposit, Investment, and Second-Tier Operations Limits of Banco Produzcamos, contained in Resolution No. CD-SIBOIF-623-2-ABR14-2010, of April 14, 2010, published in La Gaceta, Official Journal No. 130, on July 9, 2010, is hereby amended, which shall read as follows:

"Article 7. Second-Tier Operations.- The bank may conduct second-tier operations with financial intermediaries (FIs) established in the regulations governing the matter on asset evaluation and classification of the bank.

The operations indicated in this article must comply with the limits and provisions indicated in Article 8 of this standard."

SECOND: This standard shall enter into force upon its notification, without prejudice to its subsequent publication in La Gaceta, Official Journal.

(f) Ovidio Reyes R. (f) V. Urcuyo V. (f) Gabriel Pasos Lacayo (f) illegible (Silvio Moisés Casco Marenco) (f) Fausto Reyes B. (f) illegible (Freddy José Blandon Argeñal) (f) U. Cerna B.

URIEL CERNA BARQUERO
Secretary of the Board of Directors SIBOIF