Section 45

Within the framework of the general policies fixed by the Board of the Reserve, and informing it of any decisions adopted, the Superintendent shall be responsible for –

a) rating financial institutions for the purposes of the Law on Financial Institutions;

b) revoking any authorization granted for carrying out foreign exchange transactions;

c) approving regularization and/or recovery plans of financial institutions;

d) implementing and applying the regulations of the Law on Financial Institutions, adopted by the Board of the Reserve;

e) establishing the requirements that must be met by the auditors of financial and foreign exchange institutions.

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