Legal Newsletter- June

Jun 26, 2019 | English Blog

SUPERINTENDENCY OF BANKS AND OTHER FINANCIAL INSTITUTIONS

RESOLUTION Nº CD-SIBOIF-1111-1-MAY7-2019 TEMPORARY REGULATION FOR THE DIFFERENTIAL OF CREDIT PORTFOLIO PROVISIONS AND FOR THE TREATMENT OF ASSETS RECEIVED IN RECOVERY OF CREDITS, dated May 7, 2019.  The purpose of this regulation is to establish temporary conditions for deferral of provisions for consumer loans, credit cards, extra financing, mortgages, microcredit and commercial loans, which allow financial institutions to rehabilitate the activities that generate cash flow to encourage credit activity; as well as establishing transitory provisions for the management of real estate received in payment or foreclosed. Gazette No. 104, Pages 4904 to 4912, of 06/04/2019.

 

RESOLUTION Nº CD-SIBOIF-1111-2-MAY7-2019 TEMPORARY REGULATION OF REFORM TO ARTICLE 15 OF THE STANDARD FOR CREDIT CARD OPERATIONS, dated May 7, 2019. This temporary regulation, reforms article 15 of the Standard for credit card operations, referring to the calculation of payments, in which the minimum payment must cover an amortization of not less than 3% of the principal balance, previously it was 4%. This resolution will be valid until December 31, 2019. Gazette Nº 104, Pages 4903 and 4904, of 06/04/2019.

MINISTRY OF FINANCE AND PUBLIC CREDIT

MINISTERIAL AGREEMENT Nº 006-2019 REGULATIONS ON ELECTRONIC AUCTIONS OF GOVERNMENT VALUES STANDARDIZED AND DEMATERIALIZED BY TYPE OF CURRENCY, dated May 21, 2019. This regulation establishes the process of Placement of Standardized and Dematerialized Government Securities issued and paid in any type of currency through the auction placement mechanism administered by the BCN in its capacity as financial agent of the Government. Gazette Nº 105, Pages 4957 to 4963, of 06/05/2019.

NICARAGUAN INSTITUTE OF AQUEDUCTS AND SEWERAGE

ADMINISTRATIVE RESOLUTION OF THE BOARD OF DIRECTORS OF INAA Nº CD-INAA-178-05-2019 APPROVAL OF THE REGULATIONS OF THE NICARAGUAN INSTITUTE OF AQUEDUCTS AND SEWERAGE (INAA), dated May 3, 2019.  The regulation is intended, among others, to establish the procedures for convening, sessions and decision making of the Board of Directors of INAA. Gazette Nº 105, Pages 4973 to 4976, of 06/05/2019.