Regulatory Alerts2014-02-02
Added
Transition Directive for 2013
The Superintendent of Banks updates the Public Reporting Requirements for 2013, incorporating amendments to the Board of Directors report, financial statements, and specific disclosure rules regarding credit card companies, non-refundable fees, fair value measurements, and foreign currency translation. The directive mandates that banks include quantitative and qualitative references to Basel III capital changes in their 2013 Board reports and adjust the presentation of assets and liabilities by maturity and indexation. It also clarifies definitions, removes obsolete transition rules for IAS 21, adds disclosure requirements for deposits, and updates the effective dates for public reporting.
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