The Lebanese Central Bank issued on November 3, 2021 intermediate decision 13373 under intermediate circular 600 which amends basic decisions 7694 (constituting provisions and ratio of net liquid shareholders equity in Lebanese pound) and 12713 (applying IFRS 9 standards). In details, intermediate circular 600 stated that banks and financial institutions operating in Lebanon must constitute provisions in accordance with the provisions of basic decision number 12713 (the application of banks and financial institutions to IFRS 9 pertaining to financial instruments and to conduct the sale of financial instruments at market value while abiding by the terms of “de-recognition” stipulated by IFRS 9, among others). In addition, the circular stated that provisions on financial assets & on off-balance sheet financial commitments must be recorded immediately in their respective currencies, and this with a retroactive effect. Furthermore, the circular noted that banks and financial institutions must take the appropriate measures to cover for negative foreign currency positions stemming from provisions constituted in foreign currencies.