CURACAO CREDIT INSTITUTIONS

Prudential supervision

The Curacao regulatory legislation applicable to credit institutions provides for requirements with regard to the prudential supervision in general. Such prudential supervision sees to the liquidity and solvency position of a bank without going into further detail for instance as to the safekeeping of assets or maintaining of accounts of third parties.

The Curacao legislation provides for reporting requirements that need to be submitted to the Central Bank of Curacao and St. Maarten (CBCS). However, these requirements apply only to banks regulated in Curacao.

On the basis of such reports and accounts the CBCS has the authority to give further specific instructions with regard to the business operation of the respective bank involved.

Karel Frielink
Attorney (Lawyer) / Partner

(12 October 2012)

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