Regulatory Alerts2018-10-25 | CD-SIBOIF-1078-1-OCT25-2018Added · Updated
Resolution Amending the Standard on Credit Risk Management
The Superintendence of Banks and Other Financial Institutions adds Article 52-bis to the Standard on Credit Risk Management, granting financial institutions a six-month suspension for appraising real estate assets received in payment or adjudicated if their appraisals expire between October 1, 2018, and March 31, 2019. Following this suspension period, financial institutions are required to update the appraisals of these assets within the month immediately following the end date of the suspension. This resolution entered into force upon its notification on October 25, 2018.
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