Regulatory Alerts2024-05-29 | 13637Added · Updated
The Status of the Central Office of Credit Risk
The Central Bank of Lebanon, through Acting Governor Dr. Wissam Mansouri, issued Decision No. 13637 dated May 29, 2024, to amend the "Credit Type Codes (01CTC)" table attached to Base Decision No. 7705 governing the Central Credit Risk Department system. The amendment incorporates newly defined credit codes covering housing loans, credit and charge cards, doubtful and disputed debts, factoring operations, microcredits, Islamic financing instruments, guarantees, and non-financial sector bonds into the official risk centralization reporting framework. These updated codes take effect as of March 20, 2024, and mandate banks and financial institutions to accurately classify and report their cash-denominated exposures under the revised coding structure.
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