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Requirements of Eligibility
In order to opt for the CABEI resources, the intermediary financial institution should fulfill the following requirements of eligibility:
General Requirements:
1.- To have a favorable legal opinion expressed by the CABEI, it is necessary:
- To have Legal Status
- An authenticated copy of the legal instrument of formalization and any subsequent change duly registered.
2.- In case of Non-Banking Financial Institutions (NBFI):
- A minimum of three years of being legally incorporated.
- Three years of operations
- Three years of verified credit experience.
3. Cooperatives:
- A minimum of 5 years of Constitution, Operations and Credit experience.
- To have Audited Financial Statements of the last 3 Fiscal Years, issued by External Auditors.
Minimum Financial Requirements
In order for the institutions to opt for an intermediated credit, the CABEI will verify the fulfillment of the following requisites:
MINIMUM FINANCIAL REQUIREMENTS |
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TYPE OF INSTITUTION |
INDICATOR |
PARAMETER |
Non-Banking Financial Institutions (NBFI) |
Capital Adequacy |
Higher or equal to 16.7% |
Impaired Portfolio |
Lower or equal to 15% |
|
Loss Rate |
Lower or equal to 10% |
|
Financial Self-Sufficiency |
Higher or equal to 80% |
|
Cooperatives |
Solvency |
Higher or equal to 100% |
Arrears Level |
Lower or equal to 10% of the total active portfolio |
|
Utilities |
In the last 2 Fiscal Years and in the last interim period. |
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