On November 2 of this year, the Financial Market Commission approved the issuance of Bulletin No. 2.297, which provides new instructions to banks regarding the limit of credits granted to corporate groups referred to in paragraph seven of Article 84 N°1 of the General Banking Law that affect individual debtors and interbank credits, for the determination and control of which banking companies must observe the instructions contained in Chapter 12-3 of the Updated Compilation of Rules for Banks (“RAN”).
Through the aforementioned Bulletin, Chapter 12-16 was incorporated to the RAN, which establishes the scope and exceptions for the application of the credit limit to corporate groups, together with the way to form the lists of corporate groups, the entities that compose them and the way to compute the credits granted to entities belonging to the same corporate group, in order to determine their degree of credit concentration and compliance with the limit.
Furthermore, the above, a new file D60, called “Transactions with entities belonging to the same corporate group”, is incorporated to the Information System Manual, with which the audited entities will report monthly the information referred to the daily transactions carried out with entities belonging to the same corporate group. This in addition to identifying the groups to which they belong and the amounts owed. This new file must be sent from January 2022 onwards. In addition, the regulation considers a period of adaptation to the modification, by means of which, exceptionally, the sending of the files referring to the months of January to April 2022 will be made in June, together with the file corresponding to the month of May.