Regulatory Alerts2021-07-29 | CEDEVAL-MAN-CDNAdded · Updated
Operational Manual for the Creation, Placement, and Transfer of Negotiable Deposit Certificates
Approved by the Board of Directors on 27/04/2021, this manual establishes the procedures for Banks, Cooperative Banks, and Savings and Credit Societies to create, place, and transfer Negotiable Deposit Certificates (CDNs) through the Stock Exchange of El Salvador and CEDEVAL. It mandates that CDNs be dematerialized securities registered via a Macro-title, with primary placement occurring at the counter and secondary negotiation strictly through Stockbrokerage Houses. The document requires Issuing Entities to validate buyer information within two business days before settlement and dictates that interest and capital payments be processed directly by the Issuer for custody accounts or via CEDEVAL for third-party accounts.
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