INSTRUCTION FOR THE OPERATION OF THE REQUESTED INFORMATION DIRECTORY OF THE FINANCIAL SYSTEM

DEPARTMENT OF FINANCIAL SYSTEM STABILITY
FINANCIAL STABILITY AND PUBLIC POLICIES MANAGEMENT

SEPTEMBER 2024

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INDEX

1. Generalities .................................................................................................................... 1
   1.1 Background ................................................................................................................. 1
   1.2 Legal Basis ................................................................................................................. 1
   1.3 Scope of Application .................................................................................................... 2
2. Objectives ........................................................................................................................... 2
   2.1 General Objective ............................................................................................................ 2
   2.2 Specific Objectives ..................................................................................................... 2
3. Definitions ...................................................................................................................... 3
4. General Rules ............................................................................................................ 4
   4.1 Information Providers .......................................................................................... 4
   4.2 Information Users ................................................................................................ 5
5. Specific Rules .......................................................................................................... 6
   5.1 Reception of Information ........................................................................................ 6
   5.2 Submission Mechanism ..................................................................................................... 6
   5.3 Validation of Information ......................................................................................... 8
   5.4 Non-Compliance and Sanctions .......................................................................................... 8
6. Special Provisions ................................................................................................. 9
7. Validity, Distribution, and Dissemination ............................................................................... 10

Modification Control Table ................................................................................... 12
Annexes

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1. GENERALITIES

1.1 BACKGROUND

In Session No. CD-2/2003 dated January 20, 2003, the first version of the "Instruction for the Operation of the Directory of Received Information from the Financial System" was approved, which arises from the need to order and systematize the information received from the Financial System.

On the other hand, the Central Reserve Bank of El Salvador is constantly making efforts to improve the mechanisms and means of information collection, in search of giving greater agility and security to this.

In this sense, a new system has been developed that will allow speeding up the sending and receiving of information, as well as better quality control of this.

In 2024, in order to modernize the reception and control of financial information received, the Requested Information Directory of the Financial System (DISFI) was migrated to the "Financial Information and Payment Systems Portal", placing it within the "Financial Directory" environment. This portal also captures information on Financial Inclusion and Payment Systems.

1.2 LEGAL BASIS

This Instruction is issued based on what is stipulated in the following legislation:

1.2.1 Articles 23 letter a) and 64 of the Organic Law of the Central Reserve Bank of El Salvador.
1.2.2 Article 240, second paragraph, first part of the Banks Law.
1.2.3 Law on Supervision and Regulation of the Financial System.
1.2.4 Article 146, second paragraph, first part of the Law on Cooperative Banks and Savings and Credit Societies.

1.3 SCOPE OF APPLICATION

This Instruction applies to all members of the Financial System, as contemplated in Art. 7 of the Law on Supervision and Regulation of the Financial System.

2. OBJECTIVES

2.1 GENERAL OBJECTIVE

To regulate the collection, ordering, systematization, and distribution of accounting and extra-accounting information that cannot be identified in the Financial Statements received from the Financial System, in order to have relevant, truthful, and timely information that allows the Central Reserve Bank of El Salvador to fulfill its Institutional Mission.

2.2 SPECIFIC OBJECTIVES

2.2.1 Define the mechanisms for collecting and validating accounting and extra-accounting information, which cannot be extracted from the Financial Statements, received from the Financial System.

2.2.2 Organize the reception and distribution of information to avoid duplication in requirements, by the users of this information.

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3. DEFINITIONS

3.1 DISFI ADMINISTRATOR: Person in charge of the administration and general coordination of the Financial System Information Directory, who must be a member of the Financial Stability and Public Policies Management and will be appointed by the Manager of this. (Annex No.1)

3.2 BCR: Central Reserve Bank of El Salvador.

3.3 DISFI: Financial System Information Directory.

3.4 EXTERNAL LIAISON: Employees appointed by each financial institution, who will act as contact to upload information to the DISFI.

3.5 OPERATIONS MANAGER: Official of the institutions that are part of the Financial System, its equivalent, or official designated by this, who will be responsible for communicating to the Central Reserve Bank of El Salvador, the designation of external liaisons, failures in the institution's information systems or communication services, or any other relevant situation.

3.6 GITI: Information Innovation and Technology Management.

3.7 GEFPP: Financial Stability and Public Policies Management.

3.8 DESF: Department of Financial System Stability.

3.9 FINANCIAL INSTITUTION: That Institution that by legal mandate acts habitually in the financial market.

3.10 FINANCIAL SYSTEM: Composed of the Financial Institutions mentioned in article 7 of the Law on Supervision and Regulation of the Financial System.

3.11 SSF: Superintendency of the Financial System.

3.12 INTERNAL VALIDATOR: Person appointed by each organizational unit of the BCR, to receive and validate information (Annex No.1).

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4. GENERAL RULES

4.1 INFORMATION PROVIDERS

4.1.1 Institutions that make up the Financial System, in accordance with what is established in Art. 7 of the Law on Supervision and Regulation of the Financial System, will be subject to compliance with the provisions on information requirements of this Instruction.

4.1.2 Entities obligated by this Instruction will designate the natural person who will have the function of External Liaisons with the Central Reserve Bank of El Salvador, notifying by means of a letter signed by the Legal Representative or Attorney of the entity, addressed to the Head of the Department of Financial System Stability, annually in the first fifteen (15) calendar days of January and in the first three (3) business days after its assignment when it is for the first time or when a change is made; and must detail the name, telephone, email, and position of the designated External Liaisons.

4.1.3 The collection and sending of information to the BCR by financial institutions will be coordinated by the External Liaison. In addition, they will be responsible for managing and sending responses to queries made by the Internal Validator regarding the information submitted.

4.1.4 External Liaisons will be responsible for ensuring that the reported figures are in harmony with the accounting records of the Institution.

4.1.5 The information submitted by financial institutions must conform to the formats provided by the BCR. In case that for a specific period no movement is recorded, External Liaisons must always send the respective format with zero data.

4.1.6 The BCR and the SSF will have limited responsibility for the information received from financial institutions, related to the confidentiality of this.

4.2 INFORMATION USERS

4.2.1 Users of the information received from the Financial System are the Financial Stability and Public Policies Management and the Economics and Statistics Studies Management.

4.2.2 Access permissions to the DISFI for internal validators and other BCR employees will be assigned by the Financial Stability and Public Policies Management.

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5. SPECIFIC RULES

5.1 RECEPTION OF INFORMATION

The BCR will receive from Financial Institutions the information requested through the DISFI according to the periodicity, time, and date established for each format. (Annex No. 2).

In case of force majeure that prevents a provider from meeting the established deadline to send the information, the provider may be granted an extension of the deadline, for which they must inform in writing to the President of the Central Reserve Bank of El Salvador the reasons for said impediment. The extension of the deadline cannot exceed three business days.

5.2 SUBMISSION MECHANISM

5.2.1 Financial institutions will access the DISFI through the Web portal dedicated to this service. The BCR through the GITI will define the required configuration standard for financial institutions to enable connection to the DISFI.

5.2.2 The BCR through DESF personnel will provide financial institutions with username and password for their first access to the DISFI.

5.2.3 The submission of information will be done in spreadsheet format files, according to the directory structure and file nomenclature shown in Annex No. 3.

5.2.4 If there is any failure in the financial institution's information systems that does not allow compliance with the sending of information to the BCR on the stipulated dates and times according to this Instruction, it must send it through its Operations Manager or the Official designated by the Institution and a clarifying note on the matter to the Financial Stability and Public Policies Management of the BCR; however, the reports must be sent complying with the predefined formats of the files, by email with the respective authorization of the Operations Manager or its equivalent, as established in Annex No. 2.

5.2.5 In case of failure in the communication service of provider companies, or failures in the BCR server, which affect the reception of information, it must be sent to the Financial Stability and Public Policies Management of the BCR, complying with the predefined formats of the files, by email with the respective authorization of the Operations Manager or its equivalent, while the failure persists.

5.2.6 The DISFI Administrator must inform internal validators about difficulties in the submission of information via DISFI by financial institutions, as soon as there is knowledge.

5.2.7 The external liaisons of financial institutions will report to the Financial Stability and Public Policies Management and the DISFI Administrator any failure that occurs. Likewise, if there are corresponding changes.

5.2.8 In case of receiving information in the manner indicated in paragraphs 5.2.4 and 5.2.5, the internal validator or administrator must perform the upload of relevant information in the system.

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5.3 VALIDATION OF INFORMATION

5.3.1 Internal validators must verify that the information meets the following criteria:

• Compliance: That all financial institutions send the information.
• Timeliness: Time and date established for each format.
• Reliability: According to the mechanism or criterion defined by each internal validator.

5.3.2 In case of detecting inconsistency in figures or data, the internal validator will have a set time to make the respective queries and clarifications to the external liaison of the institution in question and request the resubmission of the information if necessary. (Annex No.4), which must be reported to the DISFI Administrator.

5.3.3 In case of non-compliance in the submission of information, the internal validator will request via email the respective submission, which must be reported to the DISFI Administrator.

5.4 NON-COMPLIANCE AND SANCTIONS

5.4.1 Financial institutions that in the context of Article 64 of the Organic Law of the Central Reserve Bank of El Salvador that by action or omission do not send the information requested in this Instruction, or when the information is not provided in the means, deadline, form, and detail that the BCR establishes, will be reported to the SSF so that it proceeds in accordance with the Law on Supervision and Regulation of the Financial System.

5.4.2 In case of non-compliance in the submission of information for three consecutive or discontinuous months in the same fiscal year by financial institutions, the DISFI Administrator must report to the Financial Stability and Public Policies Management to proceed to inform the BCR Authorities, the obligated entity, and the Supervisory Entity no later than within ten business days following, the identified non-compliances, indicating the deadline available. This notification is for the entity to remedy or comply with the delivery of information to the Central Bank.

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6. SPECIAL PROVISIONS

6.1 The provisions contemplated in other specific instructions issued by the BCR for the reception of information remain in force.

6.2 Operational and contingency difficulties that arise in the execution of this Instruction must be resolved by the Presidency of the BCR upon proposal of the Financial Stability and Public Policies Management.

6.3 Aspects not contemplated in this Instruction will be resolved by the Board of Directors of the BCR.

6.4 New financial institutions authorized to operate by the SSF will be subject to what is provided in this Instruction.

6.5 This Instruction currently obliges compliance with the provisions on information requirements to banks regulated by the Banks Law, Cooperative Banks and Savings and Credit Societies regulated by the Law on Cooperative Banks and Savings and Credit Societies. The rest of the financial institutions mentioned in Art. 7 of the Law on Supervision and Regulation of the Financial System will be subject to its compliance as they are incorporated into the DISFI, according to needs assessment.

6.6 The Stock Exchange of El Salvador is subject to what is provided in this Instruction, informing only the information contained in reports BCR041, BCR042, and BCR049.

6.7 Entities will have a period of three calendar months to adapt to the new system, so a parallel must be carried out starting from October 1, 2024, with the previous submission system, sending the corresponding files and formats in both systems.

7. VALIDITY, DISTRIBUTION, AND DISSEMINATION

7.1 This Instruction will enter into force on January 1, 2025, and will repeal the Instruction for the Operation of the Requested Information Directory of the Financial System that was approved in Session No. CD-21/2021 of July 7, 2021, and the modification approved in Session CD-32/2021 of October 1, 2021.

7.2 The Board of Directors will keep a copy of this Instruction as backup to the Approval Act and will send the original to the Risk and Strategic Management Management, for custody. Likewise, it will deliver an electronic copy to the Department of Financial System Stability and authorize it to deliver electronic copies of this Instruction to the following units:

7.2.1 Presidency
7.2.2 Financial Stability and Public Policies Management
7.2.3 Economics and Statistics Studies Management
7.2.4 Information Innovation and Technology Management

7.3 The Board of Directors will send a copy of this Instruction to banks regulated by the Banks Law, to Cooperative Banks and Savings and Credit Societies regulated by the Law on Cooperative Banks and Savings and Credit Societies, to the Development Bank of El Salvador, and to the SSF, by notification, and following the distribution and sending control mechanisms already established.

7.4 The Risk and Strategic Management Management is authorized to publish this Instruction in the Administrative Instruments System, for general consultation.

7.5 This Instruction will be disseminated under the responsibility of the Financial Stability and Public Policies Management, through the Department of Financial System Stability.

7.6 This Instruction will be published in its entirety on the BCR Web page, for the knowledge of the general public.

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MODIFICATION CONTROL TABLE

No. Review	Previous Version	Approved Version	Approved and Date

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Annex No. 1
RESPONSIBILITIES FOR DISFI TEAM MEMBERS

1. DISFI ADMINISTRATOR

• Answer queries from internal validators regarding the operation of the DISFI
• Maintain permanent communication with external liaisons, in order to inform about changes in the directory, identify needs, and answer queries in general about the operation of the DISFI
• Keep the directory updated according to the needs of the BCR and inform the different entities involved.
• Call meetings with external liaisons at the request of internal validators, to provide training or discuss topics related to the information they send.
• Keep an updated list of External Liaisons, according to the requirements of each financial institution.
• Logistically support internal validators in meetings they hold with external liaisons.
• Report through the service desk failures related to login or functioning problems with DISFI.
• Design identification code for participants or internal validators.
• Add, enable, and disable users requested by participating institutions or internal validators.
• Authorize access to information by other BCR employees, other than Internal Validators.
• Report monthly to the Financial Stability and Public Policies Management about non-compliances and inconsistencies in the information received during the previous month reported by internal validators. In those cases that merit it, the Financial Stability and Public Policies Management will inform the BCR Authorities and the Supervisory Entity.

2. INTERNAL VALIDATOR

• Inform the DISFI Administrator in the first 10 business days of each month, about non-compliances and inconsistencies in the information received during the previous month, by the institutions.
• Request from the DISFI Administrator, make modifications or eliminations to their respective information submission formats, as well as the inclusion of a new one, prior authorization of the immediate supervisor.
• Prepare and keep updated a list of data of their External Liaisons in each of the financial institutions.
• Request from the DISFI Administrator the scheduling of meetings with external liaisons and other involved officials of financial institutions, in order to resolve inconsistencies or provide training.

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3. DESF ASSIGNED PERSONNEL

• Assign to each external liaison of each financial institution, code and password to access the DISFI.
• Answer queries made by external liaisons about the correct way to enter the DISFI.
• Assign permissions to internal validators and other BCR employees to access DISFI information, related to their area, at the request of the Administrator of this.
• Keep an updated list of codes assigned to external liaisons.

It is requested that the DISFI Administrator Team faithfully fulfill the assigned responsibilities, and Unit Heads provide the necessary cooperation to the Team.

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ANNEX No.2

CODE	REQUESTED INFORMATION, NAME OF REPORTS OR REPORTS	PERIODICITY	MAXIMUM RECEPTION TIME AND DATE
BCR009	Interbank Deposits Balance	Daily	12:30 p.m. of each day
BCR011	Monthly Report of External Financing received from International Banking to the Financial System (In Millions of Dollars)	Monthly	Until five (10) business days after the end of the month to report
BCR017	Non-Financial Public Sector Deposits	Weekly	Until two (2) business days after the end of the week to report
		Monthly	Until five (10) business days after the end of the month to report
BCR021	Investment portfolio in securities, with interest.	Weekly	Until two (2) business days after the end of the week to report
		Monthly	Until five (10) business days after the end of the month to report
BCR040	Loan Portfolio, includes interest	Weekly	Until two (2) business days after the end of the week to report
		Monthly	Until five (10) business days after the end of the month to report
BCR041	Balance, Service, Commissions, and Payment Calendar of Instruments with the Exterior	Quarterly	4:30p.m. on the last business day of the month following the end of the quarter
BCR042	External Portfolio Investment Liabilities.	Quarterly	4:30p.m. on the last business day of the month following the end of the quarter
BCR046	Capital Participation Titles and Debt Titles	Quarterly	4:30p.m. on the last business day of the month following the end of the quarter
	Cash on Hand	Weekly	Until two (2) business days after the end of the week to report
		Monthly	Until five (10) business days after the end of the month to report
BCR048	New Time Deposit and Repo Operations	Daily	12:30 p.m. of each day
BCR049	External Portfolio Investment Assets. Capital Participation Titles and Debt Titles	Quarterly	4:30p.m. on the last business day of the month following the end of the quarter

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Note: The cutoffs for sending the information must be as follows: Weekly: The Friday of each week.
Monthly: Last business day of each month.
Quarterly: Last business day of the third month of each quarter.

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ANNEX No. 3
TECHNICAL SPECIFICATION

File Structure

File Naming (Label)

BCR + NNN _ F - xx = File Name

• Period defined in relation to the frequency
• Frequency of the table or periodicity
• Report number
• BCR

Where:

BCR = Identification that the table belongs to the BCR NNN = Report numbers, will be three numeric characters.
_ = (Underscore) Separator of the report number with the periodicity frequency.
F = Frequency or periodicity with which said report will be sent to the BCR, which can take the following values: D=daily, S=weekly (), Q=bimonthly, M=monthly, T=quarterly, X=semi-annual and A=annual. (all uppercase) - = (Hyphen) Separator of the periodicity frequency with which said report will be sent to the BCR, with the period defined in relation to the frequency. xx = Period defined in relation to the frequency (DDMMAAAA). () The criterion that should prevail for assigning the week number is the information cutoff date (Friday)

For example: BCR009_D-15122024

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ANNEX No.4
MAXIMUM VALIDATION TIMES

CODE	MAXIMUM TIME AND DATE FOR VALIDATION OF INFORMATION RECEIVED FROM FINANCIAL INSTITUTIONS.
BCR009	2:30 p.m.
BCR011	4 business days after receipt of the information.
BCR017	10:00 a.m. of the next business day (for weekly). 5 business days after receipt of the information (for monthly).
BCR021	10:00 a.m. of the next business day. 5 business days after receipt of the information.
BCR040	1 business day after receipt and 5 business days after receipt of the information (for monthly)
BCR041	15 business days after receipt of the information
BCR042	15 business days after receipt of the information
BCR046	1 business day after receipt and 5 business days after receipt of the information (for monthly)
BCR048	2:30 p.m.
BCR049	15 business days after receipt of the information