Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

BANCO CENTRAL DE RESERVA

Code:
RGL-MP02-GOF-001

Version:
6.0

Validity:
May 18, 2026

Financial Operations Management

Information Classification	Internal Access
□ Official	✅ All employees
✅ Public non-official	□ Restricted
□ Reserved
□ Confidential

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INDEX

1. Generalities.................................................................3
2. Objective...........................................................................5
3. Definitions.................................................................5
4. General Rules.........................................................12
5. Specific Rules......................................................17
6. Special Provisions.............................................41
7. Validity, Distribution and Disclosure..........................48
8. Formats and Records....................................................49
9. Version Control......................................................49

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REVIEWED:
[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - FINANCIAL OPERATIONS MANAGEMENT] Financial Operations Manager

APPROVED BY:
[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - PRESIDENCY] President

[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - VICE-PRESIDENCY] Vice President

Session No. CD-10/2026 of May 18, 2026

# Financial Operations Management

## Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

| Code: | RGL-MP02-GOF-001 |
|---------|------------------|
| Version: | 6.0 |
| Validity: | 18/May/2026 |

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## 1. Generalities

### 1.1. Background

The Real-Time Gross Settlement System (LBTR) was approved by the Board of Directors of the Central Reserve Bank of El Salvador, in Session No. CD-3/2010 dated January 25, 2010, commencing operations on February 17 of the same year. In addition, in Session No. CD-57/2016 of December 19, 2016, the Board of Directors agreed to recognize the LBTR System as systemically important, which implies having the legal backing of the Treaty on Payment Systems and Securities Settlement Systems of Central America and the Dominican Republic; in aspects such as finality and irrevocability.

The Real-Time Gross Settlement System facilitates the settlement of local and international operations between participants; likewise, it contains third-party operation services, identified as Transfer365 Business and regional operations Transfer365 CA-RD, which are finally settled in the Payment Interconnection System. Likewise, it provides settlement services to other Payment and Securities Settlement Systems, such as: Check Clearing System, Mass Payments System, known as Transfer365, Automated Clearing Chamber, and the Securities Clearing and Settlement System.

The Board of Directors of the Central Reserve Bank of El Salvador approved in Session No. CD-43/2009 of December 7, 2009, the Regulation of the Real-Time Gross Settlement System of the Central Reserve Bank of El Salvador, which was repealed and replaced by a new Regulation with validity from June 5, 2021, according to an agreement of the Board of Directors taken in Session No. CD-15/2021, of May 7, 2021, which had modifications approved in sessions Nos. CD-41/2021, CD-8/2022, CD-18/2022, CD-27/2022 and CD-5/2023, of December 13, 2021, March 28, 2022, August 22, 2022, November 29, 2022 and February 27, 2023, respectively. In addition, in Session No. CD-11/2023 of May 18, 2023, adjustments were made to include the operation of Transfer365 CA-RD, adjusted again in Session No. CD-23/2023 of October 24, 2023 with validity from November 1, 2023 to cover the "Rules for the participation of Digital Asset Service Providers in Payment Systems", with validity

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**REVIEWED:**

[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR
FINANCIAL OPERATIONS MANAGEMENT]

Financial Operations Manager

---

**APPROVED BY:**

[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR
PRESIDENCY]

President

[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR
VICE-PRESIDENCY]

Vice President

Session No. CD-10/2026 of May 18, 2026

Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

from November 1, 2023. With Session No. CD10/2024 of April 9, 2024, adjustments were made for current operations and compliance with the Administrative Instruments Update Plan.

In Session No. CD-03/2026 of February 16, 2026, modifications were made to Annex No. 3 of the Regulation to adjust the settlement schedules of regional operations, in accordance with the provision of the Central American Monetary Council.

In Session No. CD-06/2026, of March 18, 2026, the implementation of the PAY Payments System and the interoperable QR Code in El Salvador is approved, incorporating the aspects related to these implementations within the scope of what is established in the Regulation of the Real-Time Gross Settlement System (LBTR).

That the Central Reserve Bank of El Salvador is the institution responsible for the proper functioning of the country's financial and monetary system, as well as for the security, efficiency, and continuity of payment systems, securities settlement, regulatory and supervisory functions of the participants that make up the Payment System.

In view of the foregoing, the need has been identified to strengthen and standardize the technical criteria applied by participants in the financial sector of the Payment System through their Compliance Officers, who are the units responsible for the prevention of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction (ML/TF/WMD).

1.2. Legal Basis

1.2.1. Treaty on Payment Systems and Securities Settlement Systems of Central America and the Dominican Republic.
1.2.2. Article 3 letters e), g), h) and l), and Arts. 65, 66, 67, 94 and 95 of the Organic Law of the Central Reserve Bank of El Salvador.
1.2.3. Article 60 of the Banks Law.
1.2.4. Law on Cooperative Banks and Savings and Credit Societies, Art. 34 letters h) and s), Art. 151, Art. 158.
1.2.5. Special Law for the Prevention, Control and Sanction of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction and its Regulation.

REVIEWED:
[Seal: Central Reserve Bank of El Salvador - Financial Operations Management] Financial Operations Manager

APPROVED BY:
[Seal: Central Reserve Bank of El Salvador - Presidency] President Session No. CD-10/2026 of May 18, 2026

[Seal: Central Reserve Bank of El Salvador - Vice Presidency] Vice President

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Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

1.2.6. Special Law Against Acts of Terrorism.
1.2.7. Law on the Issuance of Digital Assets.
1.2.8. Law to Facilitate Financial Inclusion.
1.2.9. Instruction for the Prevention, Detection and Control of Money Laundering and Assets, Terrorism Financing and the Financing of the Proliferation of Weapons of Mass Destruction.
1.2.10. Instruction for the Recognition of Systemically Important Payment and Securities Settlement Systems.
1.2.11. General Rules of the Payment Interconnection System.
1.2.12. Rules for the Entry and Participation in Payment Systems Administered by the Central Reserve Bank of El Salvador by Institutions Administering Payment Financial Services.
1.2.13. Rules for the Participation of Digital Asset Service Providers in Payment Systems.

1.3. Scope of Application

This Regulation is strictly mandatory for the Participants of the Real-Time Gross Settlement System and for the Central Reserve Bank of El Salvador, in its role as Regulator, Administrator, User and Supervisor of this system, and constitutes the technical regulation issued by this same entity, to define the entry, participation, suspension and exclusion of the Participants of the LBTR System.

2. Objective

Define the rules for the correct operation of the Real-Time Gross Settlement System, as well as define the rules for the entry, Participation, Suspension and Exclusion of the Participants of the LBTR System and of the Central Reserve Bank of El Salvador, in its function as Administrator, User, Regulator and Supervisor of the Real-Time Gross Settlement System.

3. Definitions

For the purposes of this Regulation, the following definitions will be used:

REVIEWED:
[Seal: Central Reserve Bank of El Salvador - Financial Operations Management] Financial Operations Manager

APPROVED BY:
[Seal: Central Reserve Bank of El Salvador - Presidency] President Session No. CD-10/2026 of May 18, 2026

[Seal: Central Reserve Bank of El Salvador - Vice Presidency] Vice President

| Financial Operations Management | Code: RGL-MP02-GOF-001 |
| :--- | :--- |
| Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador | Version: 6.0 |
| | Validity: 18/May/2026 |
| | Page 6 of 63 |

### 3.1. BCR or Central Bank:
Central Reserve Bank of El Salvador.

### 3.2. Value Loading (Cash in):
It is the process of the Pay Payments System through which, value is loaded to the record of a Final User or Holder from electronic means or physical access points.

### 3.3. Digital Certificate:
Electronic file, with a data structure containing information about an entity (for example, a public key), signed by another entity, considered by a collection of other entities as an authority for this type of content. The signature of the data structure groups the information it contains, so that it cannot be modified without this modification being detected. The types of certificates with PKI or public key infrastructure have the functionality of encrypting all messages that are signed with said certificate, becoming a secure mechanism for the exchange of information.

### 3.4. QR Code:
Two-dimensional graphic representation, encoded through a pattern of square modules, which allows storing structured information efficiently. In the context of interoperable payments, the QR Code contains the necessary data to initiate an electronic transaction, such as the merchant or person identifier, the currency, the issuer or acquirer, and other technical elements defined by the national standard.

### 3.5. Deposit Account:
Account that authorized institutions maintain at the BCR for the settlement of their operations as obligations at sight and/or, according to what is stipulated in the Contract or Agreement signed between the parties, for such effect.

### 3.6. Client:
Natural or legal person account holder of a Participant entity, who originates or receives fund transfers through the BCR Payment Systems, which can be of two types:

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| REVIEWED: | APPROVED BY: |
| :--- | :--- |
| **[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - FINANCIAL OPERATIONS MANAGEMENT]** | **[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - PRESIDENCY]** |
| Financial Operations Manager | President |
| | Session No. CD-10/2026 of May 18, 2026 |
| | **[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - VICE-PRESIDENCY]** |
| | Vice President |
| | **[Signature]** |

---

| Financial Operations Management | Code: RGL-MP02-GOF-001 |
| :--- | :--- |
| Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador | Version: 6.0 |
| | Validity: 18/May/2026 |
| | Page 7 of 63 |

### 3.6.1. Originator or Orderer:
Natural or legal person who originates payments through the Origin Participant, charged to their account within it.

### 3.6.2. Beneficiary or Final Beneficiary:
Natural or legal person to whom the Destination Participant must credit the funds.

### 3.7. DTI:
Department of International Treasury of the BCR.

### 3.8. Value Unloading (Cash out):
It is the process by which a Final User or Holder of the Pay Payments System unloads value from their record, through electronic means or physical access points.

### 3.9. DPV:
Payments and Securities Department of the BCR.

### 3.10. FIFO by Pass:
Queue management method, in which instructions are processed in strict order of arrival, unless the funds available in the Deposit Account are not sufficient to fully execute the transaction, in which case the LBTR System leaves it pending until there are sufficient funds and executes the next one of amount less than or equal to the available funds.

### 3.11. Finality:
Refers to the fact that fund transfer orders issued by Participants in a recognized payment system, recognized and validly accepted in the same; will be firm, enforceable and opposable against third parties, which means that they cannot be challenged or annulled for any reason, not even by the initiation of a reorganization or liquidation procedure against a Participant.

### 3.12. Manager:
Person holding the position of Financial Operations Manager of the BCR.

### 3.13. Institutional Manager:

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| REVIEWED: | APPROVED BY: |
| :--- | :--- |
| **[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - FINANCIAL OPERATIONS MANAGEMENT]** | **[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - PRESIDENCY]** |
| Financial Operations Manager | President |
| | Session No. CD-10/2026 of May 18, 2026 |
| | **[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - VICE-PRESIDENCY]** |
| | Vice President |
| | **[Signature]** |

Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

Central Bank of a Member Country of the Central American Monetary Council, designated as a settlement agent for operations affecting the accounts of Direct Participants processed in the Payment Interconnection System.

3.14. GITI:
Financial Operations Management of the BCR.

3.15. Payment Instruction:
Order received by a Participant or a client of this, through a system, to make available to a designated beneficiary a certain amount of money.

3.16. Irrevocability:
Refers to the fact that fund transfer orders issued by Participants of a recognized payment system cannot be withdrawn by their orderer or by third parties from the moment determined by the system's operating rules.

3.17. LBTR:
Real-Time Gross Settlement System. It is the main National Systemically Important Payment System, owned by the BCR, through which, Participants process firm and irrevocable fund transfers between them. The System, in addition, provides settlement services to other Payment and Securities Settlement Systems.

3.18. ML/TF/WMD:
Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction.

3.19. Settlement:
Act by means of which, a payment obligation between two Participants is extinguished, which is materialized by the record in the deposit accounts of the Origin Participant to the Destination Participant.

3.20. Automatic Settlement:
Payment instructions originating from a payment system operator in their business system, with the due authorization and on behalf of their Participants, in order to settle in the LBTR System the final net or gross positions of their compensation systems

REVIEWED:
[Seals and signature]
Financial Operations Manager

APPROVED BY:
[Seals and signature]
President
Vice President
Session No. CD-10/2026 of May 18, 2026

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Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

or payment batch settlement systems. Includes, debit operations that a Participant of the LBTR system makes to other Participants, according to prior agreements.

3.21. Moment of Initiation:
It is the moment when, according to Salvadoran legislation, an administrative or judicial resolution of reorganization or liquidation of a Participant is issued.

3.22. Payment System Operator or Securities Settlement System Operator: Entity responsible for the operation and functioning of a payment system or securities settlement system, who must exercise the necessary actions to coordinate the actions of its Participants.

3.23. Participant:
Financial entity or member of the financial system authorized by the Central Bank according to the requirements established in this Regulation, to use the LBTR. Participants can be:

3.23.1. Destination Participant: Entity that through the LBTR receives funds from a payment instruction, to its deposit account as its own operation or to be credited in the accounts of final beneficiaries.

3.23.2. Origin Participant: Entity that through the LBTR, or through other payment systems administered by the BCR, sends or originates its own payment instruction or that of its clients.

3.24. Payment Systems:
Set of rules, agreements, computer systems and procedures whose main objective is the execution of fund transfer instructions between its Participants.

3.25. Systemically Important Payment System: It is the payment or securities settlement system, whose correct functioning is fundamental for the efficiency of financial markets and that is susceptible to transmitting its disturbances to Participants and to other systems, even internationally. The qualification that a Payment System is of Systemic Importance is given by the BCR.

REVIEWED:
[Seals and signature]
Financial Operations Manager

APPROVED BY:
[Seals and signature]
President
Vice President
Session No. CD-10/2026 of May 18, 2026

Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

3.26. Payment Interconnection System (SIPA):
System that has as its purpose to provide automated mechanisms to channel and process regional transfers, in United States dollars, for interbank transactions between the countries of the Central American area and the Dominican Republic. This System will be identified in this Regulation and for its end users in El Salvador as "Transfer365 CA-RD".

3.26.1. Direct Participant: The central banks of the Member Countries of the Central American Monetary Council and other entities authorized by said Council, that use the services of the Payment Interconnection System for operations carried out by indirect Participants and that as such possess deposit accounts in the Manager for the settlement of operations.

3.26.2. Indirect Participant: Financial entity that possess accounts in the central banks of the member countries of the SIPA to order and receive fund transfers through said system.

3.27. SSF:
Superintendence of the Financial System.

3.28. System to System or Straight Through Processing (STP):
Automated process of electronic transfers from system to system, which allows accelerating financial transactions, by processing without manual intervention, thus completing the processing cycle from beginning to end, continuously.

3.29. Pay Payments System:
Payment infrastructure developed and administered by the Central Bank, which is part of the modernization strategy oriented towards the digitalization and interoperability of payment systems, and which provides, through a mobile application and web platform interoperable with the Financial System of El Salvador, services of value loading and unloading, electronic fund transfers and other payment mechanisms, contributing to the fulfillment of the objectives of the National Financial Inclusion Policy, for the benefit of the population.

REVIEWED:
[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - FINANCIAL OPERATIONS MANAGEMENT] Financial Operations Manager

APPROVED BY:
[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - PRESIDENCY] President [Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - VICE-PRESIDENCY] Vice President Session No. CD-10/2026 of May 18, 2026

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Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

3.30. Subsystem:
Internal or external system that is connected to the LBTR system, with the purpose of sending and/or receiving transfer or payment operations with Participants.

3.31. SWIFT (Acronym in English):
Information transmission system provided by the Society for Worldwide Interbank Financial Telecommunications.

3.32. Token:
Physical or digital device, code generator, which generates customizable authentication codes, which protects online banking operations. These codes are modified automatically and constantly, which are random and never repeated.

3.33. Transfer365:
Service to perform interbank operations that the BCR has made available to clients of institutions authorized by the BCR to remit fund transfers to third parties, credit card payments, loans, among others.

3.34. Transfer365 Business:
LBTR service that Participants make available to their corporate clients through their electronic channels, so that they can remit fund transfers to third parties, to a Participant or to the Central Bank.

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3.35. Transfer365 Móvil:
Service for performing interbank operations that the BCR has made available to the clients of institutions authorized by the BCR, through which clients transfer funds to bank accounts using the mobile number previously associated with them.

3.36. Fund Transfer:
Payment instruction by which Participants of the LBTR system transfer funds among themselves for their own operations or those of their clients.

REVIEWED:
[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - FINANCIAL OPERATIONS MANAGEMENT] Manager of Financial Operations

APPROVED BY:
[Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - PRESIDENCY] President [Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - VICE-PRESIDENCY] Vice President Session No. CD-10/2026 of May 18, 2026

Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

3.37. User:
Person or subsystem designated by the Participant to execute queries or operations in their deposit account in the LBTR, observing the corresponding security measures.

3.38. OVSP:
Office for the Surveillance of Payment Systems of the BCR.

4. General Rules

4.1. The BCR is the administrator of the LBTR and of the services provided by it and as such, is responsible for ensuring its correct functioning, regulating and disseminating the regulations governing it; likewise, the BCR is a participant of the LBTR.

4.2. The following entities may be Participants of the LBTR:
4.2.1. Banks, Cooperative Banks, Savings and Credit Societies, as well as other institutions that have the status of members of the Financial System and that are supervised by the Superintendence of the Financial System.
4.2.2. Central Government institutions and autonomous state-owned companies; and
4.2.3. Entities that are approved by the Board of Directors of the Central Bank and that have previously been authorized by a supervisory entity, in accordance with the Regulations issued under article 67 of the Organic Law of the BCR.

The entities described above must, as a requirement for their Participation in the LBTR System, open and maintain a deposit account at the Central Bank, in accordance with the applicable legal and regulatory conditions.

To be a Participant of the LBTR and/or to open a Deposit Account at the BCR, the process detailed in section 5.3 of this Regulation must be complied with, and applicants and Participants must be and remain solvent in the payment of any debt with the BCR.

4.3. Participants that collect funds from the public must enable and make available to their clients the following local and regional operations services:

REVIEWED
[SEAL OF FINANCIAL OPERATIONS MANAGEMENT]
Manager of Financial Operations

APPROVED BY:
[SEAL OF PRESIDENCY]
President
[SEAL OF VICE-PRESIDENCY]
Vice President
Session No. CD-10/2026 of May 18, 2026

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Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

4.3.1. Transfer365 CA-RD: For corporate banking and retail banking through their electronic channels and counters at agencies and/or branches. This service will be subject to what is established in section 5.10.

4.3.2. Transfer365 Business: Through electronic channels for corporate banking, counters at agencies and/or branches, without costs or commissions.

4.3.3. Transfer365 and Transfer365 Móvil: Through their electronic channels for retail banking, corporate banking, mobile banking, and counters at agencies and/or branches. This service will be subject to what is established in the Instruction for the Administration and Operation of Mass Payments.

4.4. The BCR will establish the charging of the commission for Payment System services, in accordance with what is established in Art. 65 of its Organic Law, which will be communicated to Participants accompanied by payment mechanisms no later than five (5) business days after its approval.

4.5. Participants must send their payment instructions to the LBTR through the System-to-System mechanism. The direct registration modality in the LBTR may be used by Participants, only in cases of contingency previously coordinated and authorized by the Manager or by the Head of the DPV.

4.6. Payment instructions will be made electronically in the LBTR and will be settled one by one in real time, provided there is availability of funds in the deposit accounts that the Participants originating said instructions maintain at the BCR. Likewise, it will be the responsibility of the Participants to maintain sufficient funds in said Deposit Accounts, to guarantee the settlement of their payment instructions. Participation in the LBTR does not imply for the Administrator of the LBTR, the obligation to grant credits, overdrafts, or guarantees of any kind and at no time.

4.7. The electronic records of the operations carried out in the LBTR have the same effects and validity as if said records had been made with physical documents.

4.8. Payment instructions will be considered irrevocable when validly accepted by the LBTR and will be firm when the Deposit Account of the Origin and Destination Participant has been affected, therefore, only after that moment, will they be considered enforceable and opposable against third parties.

REVIEWED
[SEAL OF FINANCIAL OPERATIONS MANAGEMENT]
Manager of Financial Operations

APPROVED BY:
[SEAL OF PRESIDENCY]
President
[SEAL OF VICE-PRESIDENCY]
Vice President
Session No. CD-10/2026 of May 18, 2026

Financial Operations Management	Code: RGL-MP02-GOF-001
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador	Version: 6.0
	Validity: 18/May/2026
	Page 14 of 63

4.9. Participants must have two dedicated communication links and supplied preferably, by two different providers and directed towards the BCR infrastructures, located in the Government Center, Juan Pablo II Alameda Building, between 15th and 17th North Avenue and in the Center Building, located on First West Street, between 5th and 7th North Avenue, both in San Salvador, respectively, and the BCR facilities located at Kilometer 10 ½ Highway to the Port of La Libertad, or at the alternate site that the BCR establishes, with the purpose of ensuring business continuity in case of failures presented by one of them or the occurrence of a disruptive event.

4.10. Participants must allow their clients to perform fund transfers and payments from their attention channels (electronic and physical) using the BCR Payment Systems, without time restrictions to initiate the use of the service, applying a risk-based approach, without generalized controls that restrict their use, and without limit of operations and amounts, other than the available balance of their account, unless other legal bodies establish otherwise.

4.11. The BCR as an obligated subject will establish measures to prevent the risk of AML/CFT/FPADM, in order to comply with the responsibilities established in the Special Law for the Prevention, Control and Sanction of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction and its Regulation.

Participants are responsible for applying controls for the prevention of (AML/CFT/FPADM), and any other obligation contained in laws and norms related to the prevention or sanction of financial crimes.

4.12. Controls must be automated and not consider discretionary actions that cause a mismatch in the processing times of LBTR operations defined in this Regulation.

4.13. All fund transfers will be subject to monitoring by the BCR Compliance Office, according to the criteria it deems convenient. Additionally, in those international transactions that the Compliance Office identifies possible risks of AML/CFT/FPADM, it must carry out a due diligence analysis, in order to notify the DTI of the recommendation to continue or not with the normal procedure of the transfer. The time of said analysis may be greater than the value date on which the funds were received in

REVIEWED:
Manager of Financial Operations

APPROVED BY:
President
Vice President
Session No. CD-10/2026 of May 18, 2026

Financial Operations Management	Code: RGL-MP02-GOF-001
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador	Version: 6.0
	Validity: 18/May/2026
	Page 15 of 63

the BCR. These funds will not generate any payment of interest, costs, commissions, or additional expenses by the BCR to Participants.

4.14. Funds maintained by Participants in their Deposit Account at the BCR that are used for the settlement of fund transfer orders processed through the LBTR are unseizable, in accordance with what is established in Article 6 of the Treaty on Payment Systems and Securities Settlement of Central America and the Dominican Republic.

4.15. The BCR through the OVSP will perform the function of surveillance of payment systems, through which, the objectives of security and efficiency are promoted through the follow-up and monitoring of the LBTR, evaluating its functioning and verifying compliance with the norms, principles, and standards established in this Regulation. For the fulfillment of these functions, LBTR Participants must allow the Central Bank, through its OVSP, to carry out on-site visits at their facilities, including access to other sources of information deemed necessary.

4.16. Participants of the Real-Time Gross Settlement System will notify by letter signed by the legal representative or attorney of the entity the following:

4.16.1. In order to maintain fluid and efficient communication between the Central Reserve Bank of El Salvador in its capacity as Supervisor and Administrator of Payment Systems and the subjects participating in said Systems, it must communicate the person in charge of the participating institution and its respective assistant,

4.16.2. Designation of one or more natural persons who will exercise the function of External Link holder, as well as their respective substitutes, with the Central Bank, to receive notifications and attend requirements of the Office for the Surveillance of Payment Systems (OVSP), for each person, it must detail if the accreditation is of a holder Link or substitute.

For sections 4.16.1 and 4.16.2, the communication letter must be addressed to the OVSP and sent to the email info.sp@bcr.gob.sv, annually within the first fifteen (15) calendar days of the month of January and in the first three (3) business days thereafter when it is the first time, change, cessation in the performance of said function, or modification of contact information; and must detail the name, telephone number, email, and position.

REVIEWED:	APPROVED BY:
[Signature]	[Signature]
Manager of Financial Operations	President
	Vice President
	Session No. CD-10/2026 of May 18, 2026

Financial Operations Management	Code: RGL-MP02-GOF-001
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador	Version: 6.0
	Validity: 18/May/2026
	Page 16 of 63

4.16.3. Designation of one or more natural persons who will exercise the function of technical, operational, or management holder Link, as well as their respective substitutes, with the Central Bank, to receive notifications and attend requirements of the Administrator of BCR Systems, regarding each of the payment systems in which they participate; the communication letter must be addressed to the Department of Payments and Values and sent to the email LBTR_BCR@bcr.gob.sv, annually within the first fifteen (15) calendar days of the month of January and in the first three (3) business days thereafter when it is the first time, change, cessation in the performance of said function, or modification of contact information; and must detail the name.

4.17. Participants must establish and maintain internal control measures that they consider pertinent according to their risk management policies, with the purpose of preventing and/or mitigating them properly according to the different operations they execute through the LBTR, such measures must not conflict with what is provided in section 4.10 of this Regulation and may be verifiable by the OVSP.

4.18. The Legal Representative of the Participant must send to the Manager in the month of November of each year, the names and signatures of the persons authorized to issue instructions on the Deposit Account and whose list will be considered valid for the following year, according to the Signature Registration Form (Annex No. 1: Signature Registration Form) or inform that the names and signatures that are valid at that date are maintained. Likewise, it must report immediately cases of addition, substitution, or withdrawal of authorized signatures for any reason.

4.19. Participants that possess cash services at agencies and/or branches must make available to the members of the Pay Payment System, the boxes to perform value loading services (Cash in); value unloading services (Cash out), as well as electronic transfers of Funds or Payment Transactions of the Pay Payment System, in accordance with what is provided in the Pay Payment System Regulation.

4.20. Participants that possess QR technology must implement the national QR Code defined by the BCR, in accordance with what is established in the Instruction for the Implementation of Interoperable QR.

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REVIEWED

Manager of Financial Operations

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APPROVED BY:

President

Vice President

Session No. CD-10/2026 of May 18, 2026

Financial Operations Management	Code: RGL-MP02-GOF-001
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador	Version: 6.0
	Validity: 18/May/2026
	Page 17 of 63

5. Specific Rules

5.1. The BCR as Administrator of the LBTR will have the following obligations:

5.1.1.

Sign with Participants the adhesion contract for LBTR service provision and/or Deposit Account management, as well as any subsequent modification to it. The Manager or the Head of DPV will notify with at least fifteen (15) business days in advance of the entry into force, any subsequent modification to the contracts signed.

5.1.2.

Maintain the normal functioning and operation of the payment settlement process in the LBTR and of its services, so that Participants can settle their operations in a timely manner and implement improvements that allow achieving such purpose.

5.1.3.

Ensure compliance by Participants, of the administrative instruments and dispositions applicable to the LBTR, keeping this Regulation duly updated by carrying out a review at least every two (2) years.

5.1.4.

Ensure the integrity and confidentiality of Participant information in the LBTR.

5.1.5.

Define the technical documents of the LBTR and its services when applicable, which contain the technical specifications for interconnecting with the LBTR, as well as the formats to be used for the processing of transfer and notification files, which will be sent to Participants for compliance. In the case of new Participants, the documents will be sent once their authorization as an LBTR participant is notified, and in the case of modifications to the documents, they will be sent by the DPV within a maximum of ten (10) business days after their modification.

5.1.6.

Administer the issuance, renewal, suspension, and restoration of digital certificates and token or any other security mechanism defined for access to the LBTR, which are for personal and non-transferable use, and will be sent to the Operations Managers or their equivalent of the Participants or to the official that the Participants delegate; likewise, define the Information Security Guidelines (Annex No. 2: Information Security Guidelines).

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REVIEWED:
[Seals and signature]
Manager of Financial Operations

APPROVED BY:
[Seals and signature]
President
Vice President

Session No. CD-10/2026 of May 18, 2026

Financial Operations Management	Code: RGL-MP02-GOF-001
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador	Version: 6.0
	Validity: 18/May/2026
	Page 18 of 63

5.1.7. The Manager or whom he delegates will inform Participants of the LBTR in writing, on the same day it comes to their knowledge, the entry or withdrawal of Participants, as well as when a competent administrative or judicial authority issues a resolution that initiates a reorganization or liquidation procedure against a Participant.

5.1.8. The Presidency of the BCR may issue an administrative act through which the contractual relationships signed with the participant who requests to end the contracts with their participation in the LBTR and other payment systems are declared terminated. It may also carry out this action when the dissolution of the participant is required due to non-compliance with Central Bank regulations or reorganization or liquidation procedures against a Participant based on what is established in section 6.11 of this Regulation.

5.2. LBTR Operating Hours and Days

5.2.1.

The schedule for carrying out operations in the LBTR will be seven days a week from 00:01 hours to 22:00 hours. Operations related to Transfer365 Business, Transfer365, Transfer365 Móvil, and Transfer365 CA-RD may originate in 24/7 schedule 365 days a year.

The specific schedules of the LBTR and types of operation and services or payment systems that settle in it, are detailed in Annex No. 3: LBTR System Operating Hours by Type of Operation.

5.2.2.

The extensions of the schedules for the different types of operations in the LBTR will be carried out prior request and with the due justification of Participants, by email, and will be authorized by the head of the DPV or the person he delegates in case of absence. For the case of operations generated by the Internal Units of the BCR, the system will remain enabled from zero hours and one minute to twenty-two hours, for the submission of operations, without prejudice to the operating hours stipulated in Annex No.3 "LBTR System Operating Hours by Type of Operation". Compliance with operating hours will be the responsibility of each Unit so that, in exceptional cases, the extension of the regulated operating hour in Annex No.3 must be authorized by the Manager of the corresponding Area. Authorizations to function on holiday and weekend days of types of operations of payment systems that only operate on business days must be authorized by the President of the BCR at the request of the Manager, excepting those that by their own regulations or guidelines have their own established schedule.

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REVIEWED:
Financial Operations Management
(Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - FINANCIAL OPERATIONS MANAGEMENT) Signature: [Illegible Signature] Position: Manager of Financial Operations

APPROVED BY:
President
(Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - PRESIDENCY) Signature: [Illegible Signature] Position: President

Vice President
(Seal: BANCO CENTRAL DE RESERVA DE EL SALVADOR - VICE-PRESIDENCY) Signature: [Illegible Signature] Position: Vice President

Session No. CD-10/2026 of May 18, 2026

Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: 18/May/2026

5.3. Process to open, maintain, and close Deposit Accounts and acceptance as an LBTR Participant

5.3.1. Entities that meet the requirements described in this Regulation to be Participants must present the following documents for the opening of the deposit account:

5.3.1.1. Letter signed and sealed by the Legal Representative addressed to the Manager, either in physical or digital form, requesting to open a deposit account indicating the purpose of the same, name required for the account, and persons authorized for its operation.

5.3.1.2. In the case of entities that are members of the Financial System, a copy of the authorization issued by the Superintendence of the Financial System to carry out operations subject to their supervision must be presented; likewise, in the case of entities authorized or supervised by other competent authorities other than the SSF, a copy of the corresponding authorization issued by the respective institution, in which its legal authorization to operate is expressly stated, must be presented.

5.3.1.3. For the case of entities authorized by the Board of Directors, in accordance with the Regulation issued in attention to article 67 of the Organic Law of the BCR, the Authorization Agreement must be listed in their request.

5.3.1.4. Copy of the deed of constitution of the entity, in which its due inscription in the Commerce Register or corresponding entity is stated, and documentation that accredits the legal representation of the attorney or representative.

5.3.1.5. Send in the deadlines, form, and quantity required, the information that through the Manager or directly requests the Compliance Office or the OVSP of the BCR.

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REVIEWED:
[Seal: Central Reserve Bank of El Salvador - Financial Operations Management] Financial Operations Manager

APPROVED BY:
[Seal: Central Reserve Bank of El Salvador - Presidency] President [Seal: Central Reserve Bank of El Salvador - Vice Presidency] Vice President Session No. CD-10/2026 of May 18, 2026

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Financial Operations Management
Regulation of the Real-Time Gross Settlement System (LBTR) of the Central Reserve Bank of El Salvador

Code: RGL-MP02-GOF-001
Version: 6.0
Validity: May 18, 2026

5.3.1.6. For cases involving requests from institutions that are already LBTR Participants, the Head of the DPV will require an opinion from the Compliance Office, and when it concerns new Participants, will additionally request an opinion from the Legal Management and the OVSP, unless they correspond to entities authorized by the Board of Directors that have already been evaluated.

5.3.1.7. Once all required opinions have been received, the DPV will incorporate them into its comprehensive technical evaluation, which it will carry out, and will forward it to the Manager no later than three (3) business days after the final opinion of the consulted units, incorporating the technical feasibility to address the request.

5.3.1.8. If the result of the evaluation is favorable and if it concerns an entity that is already an LBTR Participant and the request is for a remunerated account, the Manager will propose that it be submitted for authorization to the Board of Directors of the BCR, taking as a basis what has been established by the Board of Directors for the remuneration of Deposit Accounts. If it is a non-remunerated account, the Manager will forward the response to the requesting institution, no later than 3 business days later, indicating that it must sign the Deposit Account Contract.

5.3.1.9. If the evaluation is favorable, if it concerns an account of a new participant, the Manager will inform and request approval from the Presidency of the BCR, prior to making it known to the entity, unless its participation has already been authorized by the Board of Directors, and will provide the corresponding technical documentation for its participation in the LBTR or in the other payment systems in question. If it concerns a remunerated account, the Manager will propose to the Presidency that it be submitted for authorization to the Board of Directors of the BCR. The communication of the evaluation result must be carried out within a period not exceeding 30 business days, counted from the receipt of complete information submitted by the requesting entity or from the corrected information in cases where it has been requested from the Participant.

REVIEWED:
[Seal: Central Reserve Bank of El Salvador - Financial Operations Management] Financial Operations Manager

APPROVED BY:
[Seal: Central Reserve Bank of El Salvador - Presidency] President [Seal: Central Reserve Bank of El Salvador - Vice Presidency] Vice President Session No. CD-10/2026 of May 18, 2026