CBN Introduces Additional Template to The Redesigned CRMS

Proshare

Tuesday, October 23, 2018 / 11:37 AM / CBN

The CBN Circulars on the redesigned CRMS — Notice Of Commencement Of Compliance Status Checks (Ref No: FPR/D1R/GEN/CIR/07/002; dated June 6 2018), and Notice Of Regulatory Breach - Discrepancy Between FiNA (Total Value Of Loans And Advances) And Crms (Total Value Of Outstanding Balances) As AT 30th June 2018 (Ref No: FPR/D/R/GEN/CRM/05/230; dated August 20 2018) refer. 

May we bring to your attention that an additional feature/template has been introduced to the CRMS to specifically enable participating institutions perform 'Month-End Update' of outstanding balances on their CRMS records — CRMS 400D. 

The above referenced circular on Notice Of Commencement Of Compliance Status Checks gives banks up to the 8th day after each month end to update the outstanding balance of each live CRMS record. 

Consistent with this circular, the CRMS 400D is to ensure the update of outstanding balances of ALL live CRMS records consistently aligns with total value of loans and advances reported in the monthly FiNA returns. Therefore, attempts to submit the CRMS 400D after this deadline and/or for a month end other than the immediate preceding month will be unsuccessful. 

All banks are by this notice advised to download via the CRMS Help Module the updated Offline Validator, updated Schema and Templates zip files (which includes CRMS 400D template) for subsequent updates of their CRMS records, please.


 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 

Related News

1.       Additional Regulatory Guidelines for the Operation of the Redesigned CRMS

2.      Exposure Draft On The Regulation For The Operations Of Mortgage Guarantee Companies In Nigeria

3.      Exposure Draft Of New CBN Licensing Regime For Payment System Providers

4.      CBN Proposes N5bn Capital Requirement For Payment Service Banks

5.      CBN Publishes Guidelines For Licensing and Regulation of Payment Service Banks in Nigeria

6.      Natural Language Processing in Banking – Current Applications

7.      The World Federation Of Exchanges Responds To Global Financial Network (GFIN) Consultation

8.     FirstBank To Host FinTech Summit on Oct 17 - The Future of Banking – the Role of AI and Big Data

9.      Britain Can Become The Natural Global Home For Fintech

10.  Consumer Insights can Reform Digital Banking in Nigeria – Agusto and Co

11.   Fintech Association of Nigeria Kicks-off Fintech Learning Series with SEC

12.  The Big Blockchain Lie

13.  Coinbase Is Shutting Down Its Fund Aimed At Big Investors As It Pivots To A New Retail Product

14.  Crypto is the Mother of All Scams, While Blockchain Is The Most Over-Hyped Technology Ever

 

READ MORE:
Related News
SCROLL TO TOP