Regulatory Alerts2024-08-15 | NRP-80Technical Standards for Determining First-Line Foreign Financial Entities
The Central Bank of El Salvador issued Technical Standards NRP-80 to establish the criteria and procedures for classifying foreign financial entities as "First-Line" or investment grade. These standards mandate that regulated domestic institutions only engage with foreign entities holding specific high-tier credit ratings from internationally recognized agencies like Moody's, S&P, Fitch, or A.M. Best. The regulation supersedes previous norms, requires annual updates of these classifications, and defines the scope of entities subject to these supervisory requirements.
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