15:24 - 3.08.2022

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August 3, Fineko/abc.az. In compliance with Article 34.2.12 of the Law on Banks and Article 22.0.17 of the Law on the Central Bank, the CBA Board has approved the Procedure for classifying assets & creating special reserves to cover possible losses.

ABC.AZ informs that the relevant decision was signed by CBA chairman Taleh Kazimov.

The new decision cancels Financial Markets Supervision Chamber’s Decision from 16 November 2018 "On approval of the Rules for the classification of assets & the creation of special reserves to cover possible losses".

In addition, the CBA approved the "Regulation on Prudential Standards & Requirements related to Credit Risks, including Large Credit Risks". Thus, FMSC’s decision from 16 November 2018 "On approval of the Rules on the Regulation of Credit Risks on One Borrower or a Group of Related Borrowers" and the changes approved in these rules by Decision from October 18, 2019 were canceled.