Regulatory Alerts2018-10-16 | CD-SIBOIF-1077-1-OCTU16-2018Added · Updated
Resolution Reforming Articles 1, 7, 8, 11, and 12 of the Standard on Deposit and Financial Investment Limits for General Warehouses
The Superintendence of Banks and Other Financial Institutions of Nicaragua amended Articles 1, 7, 8, 11, and 12 of the Standard on Deposit and Financial Investment Limits for General Warehouses. The reform updates definitions, specifies permissible foreign currency instruments, and establishes exposure limits per issuer or depository, such as a 30% cap for demand deposits and a 15% cap for time deposits in first-rank rated banks. It also repeals Article 11 and updates the table of recognized rating agencies and their minimum investment-grade thresholds. The resolution entered into force upon notification on October 16, 2018.
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