Regulatory Alerts2018-04-24 | CD-SIBOIF-1053-1-ABRI24-2018Added · Updated
Resolution Amending Articles 11 and 12 of the Standard on Deposit and Investment Limits
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended Articles 11 and 12 of the Standard on Deposit and Investment Limits to update the list of approved risk rating agencies. The resolution establishes specific minimum qualification categories for issuer, short-term, long-term, and sovereign risk ratings for agencies including Fitch, Moody's, Standard & Poor's, and others. It mandates that the lowest available rating be applied when multiple ratings exist and requires ratings to be publicly available on agency and institution websites. This standard entered into force upon notification to supervised financial institutions.
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