Implementation of the Rule and Procedures Advisory (2017-10-17)

Summary

This is a short General Industry Notice from CIMA regarding the implementation of a newly issued Rule and Statement of Guidance (SoG) on Credit Risk and Problem Assets. The notice states that Credit Unions, Building Societies and the Development Bank will be given a transitional period to implement the new Rule and SoG.

The extracted page content is very brief and consists mostly of website navigation/boilerplate text rather than the substantive text of the underlying Rule or SoG itself.

Key obligations

• Credit Unions, Building Societies and the Development Bank must implement the newly issued Rule and Statement of Guidance (SoG) on Credit Risk and Problem Assets by the end of the stated transitional period.

Applies to

Credit Unions, Building Societies, Development Bank

Deadlines

• April 2016: End of transitional period for Credit Unions, Building Societies and the Development Bank to implement the newly issued Rule and SoG on Credit Risk and Problem Assets