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Banking Code – Updated Guidance Notes 10 October 2006

The Commission has updated three of the Risk Management Guidance Notes published in March 2006. These are as follows:-

  • Banking Guidance Note (BGN 1.0) – General Guidance to the Banking (General Practice) Regulatory Code 2005 is replaced by BGN 1.1. The change relates to the trigger ratio for capital adequacy.
  • Banking Guidance Note (BGN 2.0) – Banking Returns is replaced by BGN 2.1. The main changes are in relation to SR-3B and SR-4.
  • Banking Guidance Note (BGN 4.0) – Large Exposures is replaced by BGN 4.1. The change relates to cash backed exposures.

Changes are in blue type.

All of the above are available on the Commission’s website via the link http://www.gov.im/fsc/handbooks/guides/Banking/bankingcode2005guidancenotes.xml.

If you have any queries in relation to the above, please contact Cheryl McGinley (Cheryl.mcginley@fsc.gov.im) or your relationship manager

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