Additional Note to Circular 89-2 to financial institutions
Summary: Additional Note to Circular 89-2 to financial institutions of the Bank of the Republic of Haiti — an instrument published alongside circular 89-2 to financial institutions, 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 BRH note amends Annex II to Circular 89-2 by directing covered financial institutions to use the attached guidelines when transmitting their annual internal-control report.
- Institutions must prepare a synthetic report that highlights significant changes during the year and can adapt the plan to their activities, structures and organization.
- The report is meant to complement the internal-control and risk-management questionnaire and provide precise evidence of effective compliance with BRH requirements.
- Consolidated-supervision groups must explain how internal control is assured at group level and what main risks the group faces.
- The amended plan covers governance, risk mapping, internal-control organization, audit, credit, liquidity, market, interest-rate, foreign-exchange, AML/CFT, compliance, operational risk, business continuity, information security and outsourced activities.
How to cite
Bank of the Republic of Haiti (BRH), 2024, Additional Note to Circular 89-2 to financial institutions, https://www.brh.ht/wp-content/uploads/Note-Additionnelle-Circulaire-89-2-mars-2024.pdf