Regulatory Alerts2024-01-31 | NRP-53Technical Standards for Environmental and Social Risk Management
The Central Reserve Bank of El Salvador issued Technical Standards NRP-53 to mandate that financial institutions implement robust systems for identifying, evaluating, and mitigating environmental and social risks. The regulation requires covered entities to establish specific governance structures, including Board and Senior Management responsibilities, and to adopt exclusion lists and risk categorization methodologies aligned with international standards. These measures aim to ensure prudent risk management, regulatory compliance, and the promotion of sustainable development within the Salvadoran financial system.
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