The Central Bank of the Republic of San Marino has issued Circular No. 2026-01 updating its requirements on financial statements, following a public consultation. The adopted text fully confirms the proposed simplifications on balance sheet-related matters, while postponing the planned prudential regime for system securitisation. The simplifications focus in particular on the content of the notes to the financial statements and the related supervisory reports, reflecting requests from the banking sector. In contrast, the provisions on the prudential treatment of system securitisation that were intended to supplement Circular No. 2022-01 have been deferred until the Bank completes its assessment of the current and prospective impacts. This sequencing is intended to allow the simplifications to apply already for the corporate and consolidated financial statements for fiscal year 2025 that are due to be approved soon, with the securitisation prudential framework to be addressed in a forthcoming regulatory intervention after the impact assessment is completed.
Central Bank of San Marino 2026-04-07
Central Bank of the Republic of San Marino issues Circular No. 2026-01 on financial statements with balance sheet simplifications confirmed and securitisation prudential rules deferred
The Central Bank of the Republic of San Marino has issued Circular No. 2026-01 updating financial statement requirements, confirming balance sheet-related simplifications following consultation. The changes streamline notes to the financial statements and related supervisory reports, responding to banking sector requests, and will apply to 2025 accounts. The planned prudential regime for system securitisation, intended to supplement Circular No. 2022-01, has been postponed pending completion of an impact assessment and subsequent regulatory intervention.