Regulatory Alerts2013-03-09 | CD-SIBOIF-793-1-AGOST9-2013Added · Updated
Resolution Amending Articles 16, 22, 24, and 29 of the Credit Risk Management Standard
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended Articles 16, 22, 24, and 29 of the Standard on Credit Risk Management to update classification criteria and risk mitigation rules for supervised financial institutions. The revision clarifies provisions for commercial credits, accepts pledge bonds as real guarantees, sets the maximum value for State securities at 100%, and includes guarantee funds and State guarantees as liquid guarantees. These changes took effect upon notification of Resolution No. CD-SIOIF-793-1-AGOST9-2013 on August 9, 2013.
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