Regulatory Alerts2023-12-14 | NRP-51Technical Standards for Submission and Collection of Information for the Accounting Statistical System of Financial Entities
The Standards Committee of the Central Reserve Bank of El Salvador issued Technical Standards NRP-51 to regulate the submission and validation of financial accounting data by supervised financial entities to the Superintendence of the Financial System. These norms mandate that banks, cooperatives, and other regulated entities transmit specific account catalogs, foreign deposits, and projected balances via the COES database within strict monthly and weekly deadlines. The document establishes technical file structures, validation protocols, and personal liability for directors and managers regarding the accuracy of the reported information.
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THE STANDARDS COMMITTEE OF THE CENTRAL RESERVE BANK OF EL SALVADOR, CONSIDERING:
I. That Articles 240 of the Banks Law and 146 of the Cooperative Banks and Savings and Credit Societies Law, in the second clause, establish that banks and cooperatives must facilitate direct access of the Superintendence of the Financial System to their computing systems for the purpose of obtaining accounting, financial, and credit information that allows it to fulfill its regulatory function in accordance with the law and according to the security, confidentiality, and technological limitations of each institution.
II. That Article 155 of the Cooperative Banks and Savings and Credit Societies Law establishes that savings and credit societies shall be subject to the provisions of the Banks Law, except as provided in Book IV of said Law.
III. That Article 3, literal c) of the Supervision and Regulation of the Financial System Law, establishes that it is the responsibility of the Superintendence of the Financial System to proactively monitor the risks of the members of the financial system and the manner in which they manage them, ensuring the prudent maintenance of their solvency and liquidity.
IV. That Article 7 of the Supervision and Regulation of the Financial System Law establishes the entities subject to the supervision of the Superintendence of the Financial System.
V. That Article 32 of the Supervision and Regulation of the Financial System Law establishes that it may require supervised entities to provide direct access to all data, reports, or documents regarding their operations by the means and form that it defines. When deemed convenient, the Superintendence may require direct real-time access to the information systems of the supervised entities.
VI. That Article 99, third clause, literal a) of the Supervision and Regulation of the Financial System Law, establishes that it is the responsibility of the Standards Committee of the Central Reserve Bank of El Salvador to approve technical standards on any other aspect inherent to risk management by the supervised entities.
THEREFORE, by virtue of the regulatory powers conferred by Article 99 of the Supervision and Regulation of the Financial System Law,
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AGREES to issue the following:
TECHNICAL STANDARDS FOR SUBMISSION AND COLLECTION OF INFORMATION FOR THE ACCOUNTING STATISTICAL SYSTEM OF FINANCIAL ENTITIES
CHAPTER I OBJECTIVE, SUBJECTS, AND TERMS
Objective Art. 1.- These Standards aim to regulate the processes of sending and validating data and the submission of financial accounting information that the entities subject to their application must send to the Superintendence of the Financial System.
Subjects Art. 2.- The subjects obligated to comply with the provisions established in these Standards are: a) Banks incorporated in El Salvador; b) Branches of foreign banks established in the country; c) Savings and credit societies; d) Cooperative banks; e) Federations regulated by the Cooperative Banks and Savings and Credit Societies Law; f) The Agricultural Development Bank, insofar as it does not contradict its creation Law; g) The Mortgage Bank of El Salvador, S.A.; h) The Development Bank of the Republic of El Salvador and the Economic Development Fund; and i) The Exclusive Purpose Holding Company.
Terms Art. 3.- For the purposes of these Standards, the terms indicated below have the following meaning: a) Central Bank: Central Reserve Bank of El Salvador; b) Entity(ies): Subject obligated to comply with these Standards; c) COES System: Accounting Statistical System; and d) Superintendence: Superintendence of the Financial System.
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CHAPTER II DATABASE, REQUIRED INFORMATION, AND ITS VALIDATION
Accounting Statistical System Art. 4.- The COES System shall be the database in which the submissions of financial accounting information from the entities will be accumulated.
Required Information Art. 5.- The financial accounting information to be submitted to the Superintendence consists of the following definitive figures: a) Account catalog with unconsolidated balances; b) Deposits in first-line foreign banks and other banks; c) Extra-accounting data necessary for the determination of the equity fund; d) Deposits in other foreign institutions (first-line and non-first-line); e) Data on subordinated debt; f) Data on securities abroad; g) Information on annual balance projections; and h) Any other information that the Superintendence may require after prior communication. The aforementioned information will be processed in files that will be prepared according to the file structures and data dictionary presented in Annex No. 1 of these Standards.
Description of Required Information Art. 6.- The account catalog with unconsolidated balances comprises the accounts and subaccounts of the catalog up to the ten-digit level, with balances totaled at different levels of items, accounts, and subaccounts. For adequate functioning and uniformity of the system, this catalog must be sent in its entirety, even if some of these accounts show a zero balance.
Deposits in first-line and non-first-line foreign banks Art. 7.- The Superintendence, according to the list issued by this Institution. All those not on the list are considered non-first-line. Any change in the list of first-line banks will be communicated in writing and will be available to entities on the Superintendence's website. This list will be updated semi-annually or whenever necessary.
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Other extra-accounting information used in the calculation of the equity fund Art. 8.- This refers to information for which there is no accounting code within the account catalog applicable to cooperative banks, which is necessary for the calculation of the equity fund. This information is detailed in Annexes No. 2 and No. 4 of these Standards.
Validation of Information Art. 9.- For the adequate functioning of the COES System, the Superintendence will have a system that will validate the data of the account catalog, extra-accounting accounts, and first-line and non-first-line banks before they are sent to the Superintendence, for which entities must comply with these Standards.
Art. 10.- Entities will send the previously validated information, which will be done through the validation program that the Superintendence will make available to each entity. In the event that errors occur in the submission of information, the System will not accept the information as valid and will reject it.
Art. 11.- Entities must refrain from sending the information required in these Standards in formats different from those established.
Art. 12.- In case of finding data errors, the entity is obligated to resend it with the correct information on the same day.
Responsibility for the quality of the submitted information. Art. 13.- Directors, managers, and employees responsible for the preparation, review, and authorization of the information will be personally liable for any errors, omissions, and irregularities it contains.
CHAPTER III ACCOUNTING CLOSURE DATE AND SUBMISSION OF INFORMATION TO THE SUPERINTENDENCE
Art. 14.- Entities must establish the financial position of the entity at the end of each month and submit it to the Superintendence within the first five business days of the following month, except for those corresponding to the months of June and December of each year, which must be submitted within the first ten business days of the immediate subsequent month.
Additionally, entities must establish their financial position at the last business day of each week, and this position must be submitted to the Superintendence on the first business day of the immediately following week. The information referred to in the second paragraph of this Article does not apply to the Exclusive Purpose Holding Company.
Art. 15.- The Superintendence may require the financial position at any date it deems convenient.
Art. 16.- The information received by the Superintendence may be modified within the established deadline for its presentation; once this deadline has expired, it will be considered definitive; however, obligated subjects may request the respective substitution by justifying it appropriately, notwithstanding that if authorized, the information will be considered received out of time for the purposes of the corresponding administrative process.
CHAPTER IV OTHER PROVISIONS AND VALIDITY
Sanctions Art. 17.- Non-compliance with the provisions contained in these Standards will be sanctioned in accordance with what is established in the Supervision and Regulation of the Financial System Law.
Repeal Art. 18.- [Text refers to previous norms approved by the Superintendence of the Financial System, whose Organic Law was repealed by Legislative Decree No. 592, which contains the Supervision and Regulation of the Financial System Law, published in the Official Journal No. 23, Volume 390, dated February 2, 2011.]
Transitory Art. 18-A.- From the entry into force of the modifications approved by the Standards Committee of the Central Reserve Bank of El Salvador in Session No. 11/2024, of December 19, 2024, entities will have a period of one month to make the corresponding adjustments for their implementation. (1)
Unforeseen Aspects Art. 19.- Aspects not provided for in the regulatory matter in these Standards will be resolved by the Central Bank through its Standards Committee.
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Validity Art. 20.- These Standards will enter into force on January 1, 2024.
Modifications: (1) Modifications in Annex No. 4 and incorporation of Article 18-A, approved by the Central Bank through its Standards Committee, in Session No. CN-11/2024, dated December 19, 2024, with validity from January 3, 2025.
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Annex No. 1 FILE STRUCTURE
A. XML Database Structure. The data structure is defined with the following files:
| File Name | Description |
|---|---|
| ssf_coes_saldo_cuenta.xsd | Account balances of the catalog |
| ssf_coes_deposito_extranjero.xsd | Deposits from Foreign Banks of 1st and NON 1st Line |
| ssf_coes_dato_extracontable.xsd | Extra-accounting Information of the COES System |
| ssf_coes_titulo_valor_extranjero.xsd | Foreign Securities |
| ssf_coes_prestamo_garantizado.xsd | Guaranteed Loans by Deposits in Foreign Banks |
| ssf_coes_aval_garantizado.xsd | Guarantees Guaranteed by Deposits in Foreign Banks |
| ssf_coes_deuda_subordinada.xsd | Subordinated Debt |
| ssf_coes_balance_proyectado.xsd | Projected Balance |
B. Data File for Submission of Information. The information will be submitted with the following files:
| File Name | Description |
|---|---|
| saldo_cuenta.xml | Account balances of the catalog |
| deposito_extranjero.xml | Deposits from Foreign Banks of 1st and NON 1st Line |
| dato_extracontable.xml | Extra-accounting Information of the COES System |
| titulo_valor_extranjero.xml | Foreign Securities |
| prestamo_garantizado.xml | Guaranteed Loans by Deposits in Foreign Banks |
| aval_garantizado.xml | Guarantees Guaranteed by Deposits in Foreign Banks |
| deuda_subordinada.xml | Subordinated Debt |
| balance_proyectado.xml | Projected Balance |
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Annex No. 1
- File Name: saldo_cuenta.xml This file is used to report information corresponding to the account catalog with its balances.
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_cuenta | XsString | 10 | 0 | Accounting Account. This value must not be modified. |
| nom_cuenta | XsString | 80 | 0 | Description of the accounting account. This value must not be modified. |
| valor | XsDecimal | 17 | 2 | Account balance. |
- File Name: deposito_extranjero.xml This file is used to provide information corresponding to deposits abroad, both in first-line and non-first-line banks. When it comes to first-line banks, the only column that must be updated is value; on the contrary, when they are non-first-line banks, all columns must be added. [Text fragment regarding bank codes: digit respecting the following combination: BN+Serial (E.g.: BN1, BN15, BN27).]
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_banco | XsString | 10 | 0 | Code of the First or Non-First Line Bank. |
| nom_banco | XsString | 80 | 0 | Name of the First or Non-First Line Bank. |
| Pais | XsString | 20 | 0 | Country of origin of the bank |
| Categoria | XsString | 2 | 0 | Category within which the Bank is classified. For 1st Line Banks, [Non-1st Line only] are accepted. |
| Valor | XsDecimal | 17 | 2 | Balance of the deposit in the first or non-first line bank. |
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Annex No. 1
- File Name: dato_extracontable.xml This file will serve to register information corresponding to extra-accounting data.
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_extracontable | XsString | 10 | 0 | Extra-accounting variable account. This value must not be modified. |
| desc_extra_contable | XsString | 80 | 0 | Description of the extra-accounting variable. This value must not be modified. |
| Valor | XsDecimal | 17 | 2 | Extra-accounting balance. |
- File Name: titulo_valor_extranjero.xml Contains information on securities issued by foreign institutions, classifying them by issuer (sovereigns, central banks, and others) and dividing them by risk category (From AAA to unrated).
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_titulo_extranjero | XsString | 10 | 0 | Code of the Foreign Security. This value must not be modified. |
| desc_tv_extranj | XsString | 254 | 0 | Description of the Foreign Security. This value must not be modified. |
| valor_tv_extranj | XsDecimal | 17 | 2 | Value of the foreign security. |
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Annex No. 1
- File Name: prestamo_garantizado.xml In this database, the values of loans granted that are guaranteed by first-line foreign banks will be reported. For this, the same structure and list of first-line banks presented in the deposito_extranjero file is used, with the difference that, instead of capturing the placed deposit, the value of the loan guaranteed by the first-line bank will be reported.
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_banco | XsString | 10 | 0 | Code of the First Line Bank. |
| nom_banco | XsString | 80 | 0 | Name of the first line bank. |
| Pais | XsString | 20 | 0 | Country of origin of the bank |
| categoria | XsString | 2 | 0 | Category within which the Bank is classified. For 1st Line Banks, [accepted] |
| valor | XsDecimal | 17 | 2 | Value of the loan guaranteed by the first line bank. |
- File Name: aval_garantizado.xml In this database, the values of guarantees and bonds guaranteed by first-line foreign banks will be reported, and it uses the same structure and list of banks from the BPYNPL.DBF file, with the difference that instead of capturing the placed deposit, the value of the guarantee or bond guaranteed by the first-line bank will be reported.
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_banco | XsString | 10 | 0 | Code of the First Line Bank. |
| nom_banco | XsString | 80 | 0 | Name of the first line bank. |
| Pais | XsString | 20 | 0 | Country of origin of the bank |
| categoria | XsString | 2 | 0 | Category within which the Bank is classified. For 1st Line Banks, [accepted] |
| valor_aval_fianza | XsDecimal | 17 | 2 | Value of the guarantee guaranteed by the 1st Line Bank. |
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Annex No. 1
- File Name: deuda_subordinada.xml Used to report the value of subordinated debt according to the detail of its maturities. The information reported in this detail must correspond to the capital of the debt, which will be validated against the balances reported within the corresponding accounts of the account catalog (Subordinated debt with first-line foreign institutions).
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_deuda | XsString | 10 | 0 | Code assigned to the subordinated debt according to its maturity period. This value must not be modified. |
| desc_deuda | XsString | 80 | 0 | Description of the subordinated debt code. This value must not be modified. |
| valor_deuda | XsDecimal | 17 | 2 | Value of the subordinated debt. |
- File Name: balance_proyectado.xml In this database, the information on the projections that the entity expects to have in its operations for the reported year will be reported.
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Annex No. 1
| ELEMENT | TYPE | LENGTH | DECIMALS | DESCRIPTION |
|---|---|---|---|---|
| id_codigo_cuenta_proy | XsString | 10 | 0 | Accounting Account. This value must not be modified. |
| nom_cuentaproy | Character | 80 | 0 | Description of the accounting account. This value must not be modified. |
| enero | XsDecimal | 17 | 2 | Account balance projected for January. |
| febrero | XsDecimal | 17 | 2 | Account balance projected for February. |
| marzo | XsDecimal | 17 | 2 | Account balance projected for March. |
| abril | XsDecimal | 17 | 2 | Account balance projected for April. |
| mayo | XsDecimal | 17 | 2 | Account balance projected for May. |
| junio | XsDecimal | 17 | 2 | Account balance projected for June. |
| julio | XsDecimal | 17 | 2 | Account balance projected for July. |
| agosto | XsDecimal | 17 | 2 | Account balance projected for August. |
| septiembre | XsDecimal | 17 | 2 | Account balance projected for September. |
| octubre | XsDecimal | 17 | 2 | Account balance projected for October. |
| noviembre | XsDecimal | 17 | 2 | Account balance projected for November. |
| diciembre | XsDecimal | 17 | 2 | Account balance projected for December. |
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Annex No. 2 DATA DICTIONARY (Applicable to Cooperative Banks) This data dictionary contains the characteristics of the elements that form part of the required structure.
A. File for the Account Catalog: saldo_cuenta.xml It will contain the information of the account catalog with entity balances. The account and description fields must not be modified by Cooperative Banks, otherwise the validator will reject it.
FIELD : id_codigo_cuenta DESCRIPTION : Account Code COMMENT : Account codes must be registered up to 10 characters and without zero padding. Example: Correct Form: Account : ASSETS Code: 1 Incorrect Form: Account: ASSETS Code: 1000000000
FIELD : nom_cuenta DESCRIPTION : Account Description COMMENT : Must be written in UPPERCASE
FIELD : Valor DESCRIPTION : Balance as of the date COMMENT : Must always be sent, even if this balance is zero
B. File for Deposits in First-Line and Non-First-Line Banks and Other Foreign Institutions: deposito_extranjero.xml It will contain the detail of deposits in banks and other foreign institutions. Most of the information requested is provided by the Superintendence and only the corresponding to NON 1st Line banks and other financial institutions incorporated by the Cooperativ[e]... [Text cuts off]