Mutual Banks Act, 1993 (Act No. 124 of 1993)RegulationsRegulations relating to Mutual BanksChapter II : Risk-based Returns and Instructions, Directives and Interpretations relating to the completion thereof30. Credit risk |
| (1) | The prescribed percentage contemplated in— |
| (a) | section 51(1) of the Act shall be 10 per cent of the net qualifying capital and reserves of the reporting bank, foreign branch, foreign subsidiary or foreign associate referred to in regulation 5(2)(b), as the case may be, as shown in line item number 31 on form DI 100, at the latest date for which the relevant statement was submitted; and |
| (b) | section 51(2) of the Act shall be 25 per cent of the net qualifying capital and reserves of the reporting bank, foreign branch, foreign subsidiary or foreign associate referred to in regulation 5(2)(b), as the case may be, as shown in line item number 31 on form DI 100, at the latest date for which the relevant statement was submitted. |
| (2) | A mutual bank shall complete the Forms DI500, 505, 510 and 520 in accordance with such instructions or requirements as may be determined or directed in writing by the Authority. |
[Regulation 30(2) substituted by section 26 of Notice No. 7414 of GG54593, dated 29 April 2026 - effective 1 May 2026]