OSED
Circular Letter No. 01 of 2013 |
March
21, 2013 |
The Presidents/ Chief Executives
All Banks/DFIs/MFBs
Dear
Sirs / Madam,
Transfer of Functions to BPRD &OSED
All banks/DFIs/MFBs are informed that functions performed by the Banking Surveillance Department (BSD) have been transferred to Banking Policy and Regulations Department (BPRD) and Offsite Supervision and Enforcement Department (OSED) as per the following:
- Functions pertaining to policy formulations including Basel Accord implementation, risk management policy and related instructions, financial disclosure policy, and related party exposures and transactions have been transferred to BPRD.
- Functions dealing with compliance, monitoring and financial analysis, which include stress testing, monitoring of large exposures, restructured/rescheduled loans, equity exposures and financial statements, and implementation of ICFR have been transferred to OSED.
2. In view of above restructuring, all banks, DFIs and MFBs are advised to submit their correspondence, including queries and returns/reports related to the erstwhile BSD, to BPRD and OSED as per above functional division. A list of returns/reports transferred to BPRD and OSED along with relevant circulars/circular letters is attached at Annex-A. Further, links to the relevant circulars/circular letters issued by former BSD shall be made available on the SBP website under the tabs of BPRD and OSED, shortly.
3. The above instructions are effective immediately.
Please acknowledge receipt.
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Yours Sincerely,
(Lubna Farooq Malik)
Director
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