Regulatory Alerts2016-03-15 | CD-SIBOIF-933-3-MAR15-2016Added · Updated
Resolution Reforming Article 12 of the Deposit and Investment Limits Standard
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended Article 12 of the Deposit and Investment Limits Standard to update risk rating equivalences for determining investment grades and sovereign risk levels. The revised article establishes specific minimum rating thresholds for Fitch, Moody's, Standard & Poor's, Dominion Bond Rating Services, Centroamerican Rating Society, and Pacific Credit Rating across issuer, short-term, long-term, and sovereign categories. It mandates that the lowest available rating applies when multiple ratings exist and requires ratings to be publicly accessible on the respective agency's website. This norm entered into force upon notification on March 15, 2016.