The regulations, consisting of five chapters, have been published by the Monetary Board (Junta Monetaria).
“Risk management, according to the resolution, includes the following types of risk: tolerance, credit, liquidity, market, operational, country, lines of business and prudential limits. " said an article on the Prensa Libre website.
Source: prensalibre.com
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January 2012
The Superintendency of Banks has announced changes to the legislation which regulates electronic banking.
A statement from the superintendency indicates that the update seeks promote electronic banking operations and make them more secure, transparent and efficient.
An article in Laestrella.com.pa reports, "The agreement aims to strengthen risk management, safety in operations and corporate governance with respect to electronic banking, to give banks clear rules to raise security levels.
March 2010
The Economic Commission intends to issue its report on the new bill on April, with or without regulation.
Wálmaro Gutiérrez, president of the Economy Commission at Parliament, explained that the Banking Superintendence (Siboif), is preparing regulation to control credit cards, but no details are known about it.
September 2009
Costa Rica's new regulation for Certification of Securities and Risk Rating Companies has entered into effect.
In November 2nd, 2006, the Supervisor of the Financial System (CONASSIF), approved the "Regulation on Rating of Securities and Risk Rating Companies". On September 11th, it was published in the Official Gazette, officially entering into effect.
October 2009
A new regulation code overseeing credit cards, by the Economy Ministry (MEIC), will come into effect on November 3.
Automatic teller machines will be obliged to show on-screen any fees charged for cash withdrawals or statement queries.
From Elfinancierocr.com: "Issuers will also be required to issue detailed credit card statements, showing the main balance, current interest, interest applicable to the specific period, interest for delayed payments, and the monthly interest rate".
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