Regulatory Alerts2023-12-14 | NDMC-32Technical Standards for Entities Providing Custody Services for Securitization Fund Assets
The Central Reserve Bank of El Salvador issued Technical Standards NBCR-11/2023 to regulate the custody of assets within Securitization Funds, establishing operational, security, and insurance requirements for custodians. The document mandates specific contractual formalities, including notarization and detailed clauses regarding asset segregation, liability, and information reporting to the Financial System Superintendence. It further outlines the procedures for contract review, the responsibilities of originators and sub-custodians, and the strict confidentiality and access rights granted to regulatory authorities.
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