Regulatory Alerts2022-12-30 | NCF-01Added · Updated
Accounting Manual for Deposit-Collecting Institutions and Holding Company
The Standards Committee of the Central Reserve Bank of El Salvador issued this manual, effective January 16, 2023, to mandate uniform accounting recording and financial statement presentation for deposit-collecting institutions and holding companies. The document establishes specific accounting frameworks for interest recognition, loan reclassification, impairment derecognition, and the valuation of assets and liabilities. It requires entities to submit weekly and monthly financial statements to the Superintendence of the Financial System within defined deadlines and to maintain detailed internal controls and archival systems. The manual applies to Salvadoran banks, foreign bank branches, cooperative banks, savings and credit societies, and exclusive-purpose holding companies.