SBS Amends Market Risk Management Regulation and Accounting Manual for Companies in Financial System
7 agosto 2020

On August 3, the Superintendency of Banking, Insurance and AFP (SBS, for its acronym in Spanish) issued Resolution SBS No. 1882-2020, which modifies the Regulation for Market Risk Management regarding the limits of the global position in foreign currency. Likewise, the SBS modified the Accounting Handbook of Companies in the Financial System. The regulation will come into effect on August 12.

The resolution indicates that companies with multiple operations must observe the following limits on a daily basis:

  • Limit on global oversold position: The global oversold position may not be greater than ten percent (10%) of the effective equity.
  • Limit on global overbought position: The global overbought position may not be greater than ten percent (10%) of the effective equity or the average of the global positions as a percentage of the effective equity that the company has registered during the period between December 2019 and May 2020, whichever is greater.

In turn, to perform the calculation, the last effective equity sent by the company and validated by the SBS will be taken, as well as the accounting exchange rate at the end of the month published by the SBS corresponding to the effective equity.

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