Regulatory Alerts2020-06-29 | 129/04Added · Updated
Rule on the Identification and Assessment of Critical Functions of a Commercial Bank
The National Bank of Georgia issued Decree No. 129/04 to establish criteria for identifying and assessing the critical functions and shared critical services of commercial banks operating in Georgia. The regulation mandates that banks conduct supply-side substitutability and impact analyses to classify functions as critical or non-critical based on their potential disruption to financial stability and the real economy. Banks are required to submit annual self-assessment documents for NBG review, with systematic importance banks facing earlier submission deadlines to ensure ongoing regulatory compliance and risk mitigation.
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