Temporary Technical Standards for the Calculation of the Liquidity Reserve on Deposits and Other Obligations

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador.
Tel. (503) 2281-8000 www.bcr.gob.sv
CNBCR-02/2026
NPBT-17
TEMPORARY TECHNICAL STANDARDS FOR THE CALCULATION OF THE LIQUIDITY RESERVE ON DEPOSITS AND OTHER OBLIGATIONS Approval: 02/26/2026 Validity: 03/25/2026

THE STANDARDS COMMITTEE OF THE CENTRAL RESERVE BANK OF EL SALVADOR,

CONSIDERING:
I. That Articles 45, fourth clause, and 47 of the Banks Law, Articles 28, fourth clause, and 30 of the Law on Cooperative Banks and Savings and Credit Societies, and Articles 30, fourth clause, and 31 of the Investment Banks Law, establish the need to issue pertinent norms that allow the application of provisions related to the establishment of the liquidity reserve.
II. That Article 99, letter a), of the Law on Supervision and Regulation of the Financial System, establishes that it is the responsibility of the Standards Committee to issue resolutions such as the approval of technical norms, instructions, and provisions that the laws regulating supervised entities establish must be issued to facilitate their application, especially those related to solvency and liquidity requirements.
III. That Article 100 of the Law on Supervision and Regulation of the Financial System establishes that exceptionally, in circumstances that foresee the occurrence of possible imbalances in the financial system or for reasons of social interest, the Standards Committee with at least two of its members may issue, without further procedure, temporary technical norms of immediate validity, without the prior consultation referred to in said article. The validity of the norms may not exceed one hundred and eighty days.

THEREFORE, by virtue of the regulatory powers conferred by Article 100 of the Law on Supervision and Regulation of the Financial System,

AGREES to issue the following:

TEMPORARY TECHNICAL STANDARDS FOR THE CALCULATION OF THE LIQUIDITY RESERVE ON DEPOSITS AND OTHER OBLIGATIONS

CHAPTER I
OBJECT, SUBJECTS, AND TERMS

Object
Art. 1.- These Norms aim to establish temporary parameters for the Liquidity Reserve requirement, in order to strengthen the liquidity of the financial system and ensure its stability.

Subjects
Art. 2.- The subjects obligated to comply with the provisions established in these Norms are:
a) Banks constituted in El Salvador; b) Branches of foreign banks established in El Salvador; c) Savings and credit societies; d) Cooperative banks; e) Federations formed by cooperative banks and also by savings and credit societies; and f) Investment banks.

Terms
Art. 3.- For the purposes of these Norms, the terms indicated below have the following meaning:
a) Central Bank: Central Reserve Bank of El Salvador; b) Standards Committee: Standards Committee of the Central Reserve Bank of El Salvador; c) Entities: Subjects obligated to comply with these Norms according to Article 2 thereof; d) NRP-28: Technical Norms for the Calculation and Use of the Liquidity Reserve on Deposits and Other Obligations; e) LR: Liquidity Reserve; and f) Superintendence: Superintendence of the Financial System.

CHAPTER II
TEMPORARY CALCULATION OF THE LIQUIDITY RESERVE REQUIREMENT

Coefficients of obligations subject to reserve Art. 4.- During the validity of these Norms, the coefficients applicable for the calculation of the Liquidity Reserve requirement are the following:
a) Coefficients applicable to the obligated subjects described in letters a), b), c), d), and e) of Article 2 of these Norms:

Code	Account Names	% Coefficients
211001	Demand Deposits – Checking Accounts	16
211002	Demand Deposits – Savings Accounts	14.5
211003	Demand Deposits – Savings Accounts – Simplified Savings Account Deposits	14.5
2111	Agreed Deposits up to one year term	11.5
211201	Time Deposits – Agreed for more than one year term	11.5
211202	Time Deposits with special liquidity reserve (CEDEVIV and CEDAGRO)	10
211202	Time Deposits with special liquidity reserve (For the cancellation of agricultural and livestock debt)	1
211203	Deposits guaranteeing letters of credit – Agreed for more than one year term	11.5
211204	Programmed savings deposits – Agreed for more than one year term	11.5
211301	Negotiable Deposit Certificates	11.5
211401	Restricted and inactive deposits – In guarantee – Savings accounts	14.5
211402	Restricted and inactive deposits – In guarantee – Time deposits	11.5
211403	Restricted and inactive deposits – Seized – Checking accounts	16
211404	Restricted and inactive deposits – Seized – Savings accounts	14.5
211405	Restricted and inactive deposits – Seized – Time deposits	11.5
211406	Restricted and inactive deposits – Inactive – Checking accounts	16
211407	Restricted and inactive deposits – Inactive – Savings accounts	14.5
211408	Restricted and inactive deposits – In guarantee – Simplified savings account	14.5
211409	Restricted and inactive deposits – Seized – Simplified savings account	14.5
211410	Restricted and inactive deposits – Inactive – Simplified savings account	14.5
2116080101	Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ML	3
2116080102	Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ME	3
2116080201	Agreed Loans up to one year term - Owed to foreign banks for credit lines – ML	3
2116080202	Agreed Loans up to one year term - Owed to foreign banks for credit lines – ME	3
2116080301	Agreed Loans up to one year term - Owed to foreign banks – others – ML	3
2116080302	Agreed Loans up to one year term - Owed to foreign banks – others – ME	3
2116080501	Agreed Loans up to one year term - Owed to foreign cooperatives – ML *	3
2116080502	Agreed Loans up to one year term - Owed to foreign cooperatives – ME *	3
2116089901	Agreed Loans up to one year term - Interest and other payables – ML	3
2116089902	Agreed Loans up to one year term - Interest and other payables – ME	3
2117080101	Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ML	3
2117080102	Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ME	3
2117080201	Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ML	3
2117080202	Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ME	3
2117080301	Agreed Loans for more than one year term - Owed to foreign banks – others – ML	3
2117080302	Agreed Loans for more than one year term - Owed to foreign banks – others – ME	3
2117080501	Agreed Loans for more than one year term - Owed to foreign cooperatives – ML *	3
2117080502	Agreed Loans for more than one year term - Owed to foreign cooperatives – ME *	3
2117089901	Agreed Loans for more than one year term - Interest and other payables – ML	3
2117089902	Agreed Loans for more than one year term - Interest and other payables – ME	3
2130010201	Demand Obligations – Own Checks - certified - ML	16
2130010202	Demand Obligations – Own Checks - certified – ME	16
212001	Own Issuance Titles – Agreed for less than one year term	15
212001	Own Issuance Titles at one year term	5
212002	Issuance Titles – Convertible to Shares Agreed up to one year term	5
212003	Own Issuance Titles – Agreed for more than one year and less than five years term	5
212004	Own Issuance Titles – Agreed for five or more years term (Includes those agreed for 5 years term guaranteed with State bonds for the Conversion and Consolidation of guaranteed internal debt).	1
212006	Other own issuances Agreed for less than one year term	15
212006	Other own issuances Agreed for one year term	5
212007	Other own issuances Agreed for more than one year and less than five years term	5
212008	Other own issuances Agreed for five or more years term	5
5120010002	Contingencies for Guarantees and Bonds - Guarantees for less than five years term – ME	5
5120040002	Contingencies for Guarantees and Bonds - Bonds for more than five years term – ME	5

• Applicable accounts only to cooperative banks and federations.
  These accounts will be effectively applied for the liquidity reserve calculation, starting from April 8, 2026, in consideration of the modifications to the "Accounting Manual for Deposit-Collecting Institutions and Controlling Society" (NCF-01), approved by the Standards Committee of the Central Reserve Bank of El Salvador in Session No. CN-02/2026 of February 26, 2026.

b) Coefficients applicable to the obligated subjects described in letter f) of Article 2 of these Norms:

Code	Account Names	% Coefficients
211001	Demand Deposits – Checking Accounts	16
211002	Demand Deposits – Savings Accounts	14.5
2111	Agreed Deposits up to one year term	11.5
211201	Time Deposits – Agreed for more than one year term	11.5
211203	Deposits guaranteeing letters of credit – Agreed for more than one year term	11.5
211204	Programmed savings deposits – Agreed for more than one year term	11.5
211301	Negotiable Deposit Certificates	11.5
211401	Restricted and inactive deposits – In guarantee – Savings accounts	14.5
211402	Restricted and inactive deposits – In guarantee – Time deposits	11.5
211403	Restricted and inactive deposits – Seized – Checking accounts	16
211404	Restricted and inactive deposits – Seized – Savings accounts	14.5
211405	Restricted and inactive deposits – Seized – Time deposits	11.5
211406	Restricted and inactive deposits – Inactive – Checking accounts	16
211407	Restricted and inactive deposits – Inactive – Savings accounts	14.5
2116060101	Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ML	3
2116060102	Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ME	3
2116060201	Agreed Loans up to one year term - Owed to foreign banks for credit lines – ML	3
2116060202	Agreed Loans up to one year term - Owed to foreign banks for credit lines – ME	3
2116060301	Agreed Loans up to one year term - Owed to foreign banks – others – ML	3
2116060302	Agreed Loans up to one year term - Owed to foreign banks – others – ME	3
2116069901	Agreed Loans up to one year term - Interest and other payables – ML	3
2116069902	Agreed Loans up to one year term - Interest and other payables – ME	3
2117060101	Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ML	3
2117060102	Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ME	3
2117060201	Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ML	3
2117060202	Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ME	3
2117060301	Agreed Loans for more than one year term - Owed to foreign banks – others – ML	3
2117060302	Agreed Loans for more than one year term - Owed to foreign banks – others – ME	3
2117069901	Agreed Loans for more than one year term - Interest and other payables – ML	3
2117069902	Agreed Loans for more than one year term - Interest and other payables – ME	3
2130010201	Demand Obligations – Own Checks - certified - ML	16
2130010202	Demand Obligations – Own Checks - certified – ME	16
212001	Own Issuance Titles – Agreed for less than one year term	15
212001	Own Issuance Titles at one year term	5
212002	Issuance Titles – Tokenized Titles Agreed for less than one year term	15
212002	Issuance Titles – Tokenized Titles Agreed for one year term	5
212003	Own Issuance Titles – Agreed for more than one year and less than five years term	5
212004	Own Issuance Titles – Agreed for five or more years term (Includes those agreed for 5 years term guaranteed with State bonds for the Conversion and Consolidation of guaranteed internal debt).	1
212005	Issuance Titles – Tokenized Titles Agreed for more than one year Term	5
5120010002	Contingencies for Guarantees and Bonds - Guarantees for less than five years term – ME	5
5120040002	Contingencies for Guarantees and Bonds - Bonds for more than five years term – ME	5

To the resulting amount, a percentage equivalent to 68% of the balance that entities subject to the "Technical Norms for the Calculation and Use of the Liquidity Reserve on Deposits and Other Obligations" (NRP-28) reported in account 111001 "Cash on Hand" as of September 30, 2022 (rounded to two decimals), will be deducted, and this will remain valid until the end of the validity of these Temporary Norms. The Superintendence will verify that the balance that entities maintain in account 111001 "Cash on Hand" is equal to or greater than the cash discount established in the previous clause. In the text of these Norms, the expression "obligations" will comprise all the aforementioned liabilities. In no case shall the global amount of the required reserve exceed twenty-five percent of the obligations.

Temporary calculation of the required liquidity reserve Art. 5.- The temporary calculation of the required liquidity reserve will be the amount resulting from applying the coefficients established in accordance with Article 4 of these Norms to the average balance of the obligations subject to reserve. The average daily balances must be those corresponding to the calculation period of the reserve requirement. This period will comprise fourteen consecutive days prior to the compliance period, which will always begin on Tuesdays and end on Mondays. In the case of non-business days included within a reserve requirement calculation period, the balance of the previous business day will be taken. For the purposes of these Norms, non-business days will be Saturdays, Sundays, and closure days established by the Superintendence; business days include Monday through Friday, even if they correspond to balance preparation days. The Superintendence will calculate and inform each of the obligated subjects, on the business day after the calculation period has concluded, the required reserve.

Compliance Period
Art. 6.- The compliance period of the reserve comprises fourteen days, which will begin on the Wednesday after the end of the reserve requirement calculation period. An entity will be understood to have met the reserve requirement when, at the end of the compliance period, an average equal to or greater than the required reserve is obtained.

Constitution of Reserves
Art. 7.- The reserve may be constituted totally or partially at the Central Bank, in the form of demand deposits in United States dollars or in securities issued by it in the same currency. The reserve may also be invested abroad and must be integrated by the following tranches:
a) The equivalent to twenty-five percent (25%) of the reserve requirement, in the form of a demand deposit at the Central Bank or the foreign bank in question; b) The equivalent to twenty-five percent (25%) of the reserve requirement, in the form of demand deposits at the Central Bank or the foreign bank in question; or securities issued by the Central Bank for the purposes of the liquidity reserve; and c) The remaining fifty percent (50%) in securities issued by the Central Bank or demand deposits at the Central Bank for the purposes of the liquidity reserve. In the case where the obligated subject decides to invest part of the reserve in foreign banks, it must adhere to what is established in the "Technical Norms for the Investment of Liquidity Reserves Abroad" (NPB3-10). The obligated subjects described in letters d), e), and f) of Article 2 of these Norms, according to the Law on Cooperative Banks and Savings and Credit Societies and the Law on Investment Banks, cannot invest the Liquidity Reserve abroad; consequently, the provisions in the previous clauses referring to those investments do not apply to them. In the case that cooperative banks decide to invest up to 50% of the reserve in time deposits at local banks, they must adhere to what is established in Annex No. 4 of NRP-28.

CHAPTER III
OTHER PROVISIONS AND VALIDITY

Exception of application of NRP-28
Art. 8.- During the validity of these Temporary Norms, the provisions contained in Chapters II and III of NRP-28, referring to the calculation of the liquidity reserve requirement and the constitution of this, respectively, will not be applicable.

Sanctions
Art. 9.- Non-compliance with the provisions contained in these Norms will be sanctioned in accordance with what is established in the Law on Supervision and Regulation of the Financial System.

Unforeseen Aspects
Art. 10.- Unforeseen aspects in regulatory matters in these Norms will be resolved by the Central Bank through its Standards Committee.

Validity
Art. 11.- The validity of these Norms will be from March 25, 2026, to September 8, 2026.