Notice to Circular 114-1 to money transfer houses
Summary — Notice to Circular 114-1 to money transfer houses of the Bank of the Republic of Haiti — an instrument published alongside circular 114-1 to money transfer houses, not the circular itself. Circulars are the operative prudential rules for supervised institutions, covering matters such as capital and liquidity requirements, credit-risk and governance standards, reserve requirements and foreign-exchange rules.
Key Findings
- The notice does one thing: it fixes 3 August 2020 as the entry into force of Circular 114-1 on transfer operations without counterpart, the BRH's rule on international remittances.
- The date was set in response to the industry. The notice states that it follows requests from several money transfer houses, so the start date is a negotiated one rather than a supervisory deadline imposed and held.
- It is addressed to the directors general of banks and money transfer houses together, which is the population the 114 series regulates: remittance handling is supervised across both channels, not only through the non-bank operators.
- The notice carries the reference BRH/SBIF/20#72 and is dated 23 June 2020, giving about six weeks between publication and entry into force.
- Read alongside the other instruments in this series in the corpus, this is the first of several date adjustments to the 114 circulars: 114-3 was later postponed and then partly suspended, which makes the sequence a record of how long the remittance rules took to bind.
Full Document Text
Extracted text from the original document for search indexing.
[page 1]
er Banque de la République d'Haïti
Le Gouverneur
Réf.: BRH/SBIF/20#72
Le 23 juin 2020
Aux Directeurs Généraux
des banques et des maisons de transfert
En leurs bureaux.-
Madame le Directeur Général,
Monsieur le Directeur Général,
La Banque de la République d’Haiti (BRH) vous avise, par la présente, que suite aux demandes
de plusieurs maisons de transfert, l’entrée en vigueur de la Circulaire 114-1 portant sur les
opérations de transferts sans contrepartie est fixée au 3 août 2020.
La Banque de la République d’Haiti vous prie de recevoir, Madame, Monsieur le Directeur
Général, ses salutations distinguées.
fa ubot
Angle des rues Pavée et du Quai, Port-au-Prince, Haïti / Téléphones: (509) 22.99.10.69 / 22.99.10.71
How to cite
Banque de la République d'Haïti (BRH), 2020, Notice to Circular 114-1 to money transfer houses, https://www.brh.ht/wp-content/uploads/Avis-Report-date-entrée-en-vigueur-Circulaire-114-1.pdf