Regulatory Alerts2022-03-25 | Resolución SBS 967-2022Added · Updated
Resolution SBS No. 967-2022: Approving the Regulation for the Classification of Savings and Credit Cooperatives Not Authorized to Capture Public Funds
This resolution approves the Regulation for the Classification of Savings and Credit Cooperatives Not Authorized to Capture Public Funds (Coopac), establishing the framework for risk classification by independent agencies. It mandates that Level 3 Coopac, defined by asset thresholds up to 65,000 UIT, must obtain an annual risk classification from a registered agency, with the first classification required in the second half of 2022 based on 2021 data. The regulation imposes strict independence requirements, prohibitions on credit transactions between Coopac and their rating agencies, and detailed obligations for methodology disclosure, publication, and information confidentiality.
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