Regulatory Alerts2024-06-28 | NRP-72Technical Standards for Real Estate Lease Contracts Between Banks and Related Parties
The Central Bank of El Salvador issued Technical Standards NRP-72 to regulate real estate lease agreements between supervised financial entities and related parties. The regulation mandates prior written authorization from the Financial System Superintendency for such contracts, requiring detailed disclosures on justification, board approval, and budget. The Superintendency is empowered to object to contracts that offer favorable terms to the lessor, harm the entity's assets, or indicate intent to favor the related party.
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