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the generality of the foregoing, may make Regulations respecting –

(a) reports or other information to be supplied by persons to whom licences have been granted and any other matter associated with their use; (b) records to be kept, returns and reports to be made to the Central Bank by persons who are appointed as auditors under the Act; (c) character of the records to be kept by any licensed financial institution or licensed financial holding company and the form of the report and returns to be made by the licensed financial institution or licensed financial holding company and fixing the times when such reports and returns shall be made; (d) forms necessary for the administration of this Act; (e) the better implementation of Part IX; (f) penalties that may be imposed for violations of Orders and Regulations made under this Act and may also prescribe the penalties to be imposed on summary conviction, but no such penalty shall exceed a fine of fifty thousand dollars or imprisonment of a term exceeding twelve months; Prudential standards 184. The Central Bank may issue such prudential standards as may be required from time to time for giving effect to the provisions of this Act, and without limiting the generality of the foregoing, may issue prudential standards respecting: (a) policies, practices and procedures for evaluating (i) the quality of assets, including off-balance sheet items; (ii) the adequacy of asset loss provisions; and (iii) asset loss reserves; (b) a system of asset classification, provisioning and write-offs; (c) the method of valuation of collateral; (d) rules for non-accrual of income on non-performing or impaired assets; (e) the suspension and reversal of accrued interest;

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