Regulatory Alerts2023-12-14 | NRP-49Technical Standards for the Diversification of Investments of Reciprocal Guarantee Societies and Reinsurance Companies of Reciprocal Guarantee Societies
The Standards Committee of the Central Reserve Bank of El Salvador issued Technical Standards NBCR-11/2023 to regulate the investment regimes and diversification limits for Reciprocal Guarantee Societies and their Reinsurance Companies. The regulations mandate that at least 80% of liquid resources be invested in specific financial instruments, subject to strict per-issuer and per-issuance concentration limits not exceeding 20% of total assets. These standards, which supersede previous regulations, became effective on January 2, 2024, and require monthly reporting of investment calculations to the Financial System Superintendence.
Share