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ARTICLE · 15 JULY 2022

Updated Governance Rules For Banks

ELVINGER HOSS PRUSSEN, société anonyme
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On 22 April 2022, the CSSF issued a new Circular CSSF 22/807 updating Circular CSSF 12/552 on central administration, internal governance and risk management, as amended ("Circular CSSF 12/552").

LuxembourgFinance and Banking
Elvinger Hoss Prussen
Elvinger Hoss Prussen

On 22 April 2022, the CSSF issued a new Circular CSSF 22/807 updating Circular CSSF 12/552 on central administration, internal governance and risk management, as amended ("Circular CSSF 12/552").

  • Scope of application and timeline

Circular CSSF 12/552, as amended by Circular CSSF 22/807, is applicable to credit institutions, including their branches. It also applies to Luxembourg branches of third-country credit institutions, to Luxembourg branches of credit institutions established in another Member State and, in part, to professionals carrying out lending operations ("In-Scope Entities").

The updated Circular CSSF 12/552 has been applicable since 30 June 2022.

  • Main changes brought by Circular CSSF 22/807

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