Regulatory Alerts2024-12-19 | NRP-86Technical Standards to Authorize Banks, Investment Banks, and Exclusive Purpose Holding Companies to Make Equity Investments in Subsidiaries and Offices in Foreign Countries
The Central Reserve Bank of El Salvador issued Technical Standards NRP-86 to regulate the authorization process for banks, investment banks, and exclusive purpose holding companies to establish subsidiaries and offices abroad. The document mandates specific eligibility criteria, detailed application requirements including feasibility studies and risk assessments, and a strict two-month review timeline for the Financial System Superintendence. It further establishes post-authorization obligations regarding operational coordination with foreign regulators, ongoing supervision, and compliance with anti-money laundering standards.
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