1.1. Introduction
Effective from Sep 08 2019 - Sep 07 2019
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These Rules are issued by Saudi Arabian Monetary Authority (SAMA) in exercise of the powers vested upon it under its Charter issued by the Royal Decree No.23 on 23-05-1377H (15 December 1957G) and the Banking Control Law issued by the Royal Decree No. M/5 on 22-02-1386H (11 June 1966G) and the rules for Enforcing its Provisions issued by Ministerial Decision No 3/2149 on 14/10/1406AH.
These Rules set out the minimum requirements on large exposures including the limits on a bank’s exposures to a single counterparty, and groups of connected counterparties as well as the types of exposures to be included in or excluded from those limits, and the regulatory reporting requirements for large and connected exposures.
These Rules shall supersede the existing SAMA rules on Large Exposures of Banks issued vide SAMA circular no. 45201/41 dated 14/10/1439AH. The changes from the previous version are underlined.