CIRCULAR NO. 2026-01: UPDATE ON BUDGET MATTERS

The Central Bank of the Republic of San Marino announces that, pursuant to Articles 30, 39 and 41 of Law No. 165 of November 17, 2005 (so-called LISF) and as a result of the public consultation procedure, it has issued Circular No. 2026-01 updating on financial statements.

Compared to the draft under consultation, in the adopted measure all the simplifying provisions on balance sheet matters have been fully confirmed, particularly with regard to the contents of the notes to the financial statements and the related supervisory reports, incorporating the requests of the banking class, while the provisions pertaining to the prudential regime of system securitization, to be introduced to supplement Circular No. 2022-01, have been postponed to a forthcoming regulatory intervention, as soon as the exercise of estimating the current and prospective impacts of the measure has been completed.

This solution thus made it possible to reconcile the opportunity to apply the above simplifications as early as the financial statements, both corporate and consolidated, to be approved soon (fiscal year 2025), with that of being able to carry out the checks on the prudential impact projections of the new securitization provisions.