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Banking Code – Updated Guidance Notes 2 April 2007

The Commission has updated its guidance for completion of the banking returns. Banking Guidance Note (BGN2.1) is replaced by BGN2.2. The main changes are in relation to the allowed netting of tax assets and liabilities in form SR-1, the reporting treatment of non-interest bearing assets and liabilities in SR-3B, and minor changes within form SR-3A. Changes are in blue type.

The above is available on the Commission’s website via http://www.gov.im/lib/docs/fsc/handbooks/guides/Banking/bgn22.pdf

If you have any queries in relation to this notice, please contact Andrew Kermode (andrew.kermode@fsc.gov.im) or your relationship manager.

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