Regulatory Alerts2024-02-29 | NRP-59Technical Standards for the Liquidation or Conservation of Extraordinary Assets in Financial Entities
The Technical Standards Committee of the Central Reserve Bank of El Salvador issued these norms to regulate the liquidation or conservation of extraordinary assets acquired by financial entities. The regulations mandate that such assets must be liquidated within five years of acquisition, requiring public auctions if unsold, and establish strict procedures and financial thresholds for entities seeking authorization to retain assets for specific uses. The document also outlines provisions for lotification or construction, defines applicable entities, and repeals previous regulations while specifying sanctions for non-compliance.
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