NSP-54

SECURITIES FOR THE PENSION SYSTEM

Approval: 30/12/2022
Validity: 30/12/2022

THE COMMITTEE OF STANDARDS OF THE CENTRAL BANK OF RESERVE OF EL SALVADOR,

CONSIDERING:

I. That by Legislative Decree No. 614, of December 20, 2022, published in Official Diary No. 241, Volume No. 437, of December 21, 2022, the Comprehensive Pension System Law was issued, by which the Pension System for workers in the private, public, and municipal sectors was created, which comprises the set of norms and measures that will be applied by Pension Fund Administrators.

II. That Article 79 of the Comprehensive Pension System Law establishes that Pension Fund Administrators must maintain the securities in which they invest the resources of the Funds under the custody of a specialized society for the deposit and custody of securities.

III. That Article 159 of Legislative Decree No. 614, by which the Comprehensive Pension System Law was approved, establishes that the Central Bank of Reserve of El Salvador will issue the Technical Standards and Resolutions necessary to allow the development of what is established in the aforementioned Law.

THEREFORE,

in virtue of the regulatory powers conferred by Article 99 of the Law on Supervision and Regulation of the Financial System,

AGREES to issue the following:

TECHNICAL STANDARDS FOR THE DEPOSIT AND CUSTODY OF SECURITIES FOR THE PENSION SYSTEM

CHAPTER I

OBJECT, SUBJECTS, AND TERMS

Object
Art. 1.- The object of these Standards is to establish the procedures that facilitate Pension Fund Administrators to comply with the requirement to maintain under custody the financial instruments in which the resources of the Pension Funds are invested; as well as to regulate the services that national and foreign deposit and custody societies will provide to said Institutions.

Subjects

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Art. 2.- The subjects obliged to comply with the provisions established in these Standards are the Pension Fund Administrators and the Deposit and Custody Societies.

Terms
Art. 3.- For the purposes of these Standards, the terms indicated below have the following meaning:

a) AFP: Pension Fund Administrator; b) Central Bank: Central Bank of Reserve of El Salvador; c) Stock Exchange: Stock exchange constituted in El Salvador and registered in the Superintendent of the Financial System; d) Risk Classifier: Society whose main purpose is the risk classification of securities offered to the public in accordance with the Securities Market Law of El Salvador. Internationally known as a Rating Agency; e) Depositary: Entity in which certificates of securities are deposited until they are transferred; f) Fund: Refers to the Pension Fund mentioned in letter g) of Article 2 of the Comprehensive Pension System Law; g) Financial instruments: Shares, debentures, and other securities; h) ISP: Salvadoran Institute of Pensions; i) SP Law: Comprehensive Pension System Law; j) Organized International Securities Markets: Organized securities markets, such as: Stock Exchanges, electronic markets, over-the-counter markets, or their equivalent, which have similar or higher supervision requirements compared to those of El Salvador; k) Registry: Public Registry of the Superintendent of the Financial System; l) SP: Pension System; m) Deposit and custody society: Society specialized in the deposit and custody of securities, which can be an exclusive business entity, a bank, or another financial entity authorized to provide this service; n) Sub-custodian: Institution contracted by the deposit and custody society to provide the custody service to the Pension Funds, when the latter cannot provide it directly in certain locations; o) Superintendent: Superintendent of the Financial System; and p) Pension Securities: Securities that include Transfer Certificates, Supplementary Transfer Certificates, and Pension Obligation Certificates.

CHAPTER II

DEPOSIT AND CUSTODY OF SECURITIES OF INVESTMENTS WITH RESOURCES FROM PENSION FUNDS

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Custody of securities
Art. 4.- The securities in which AFPs invest the resources of the Funds must be under custody only in a specialized deposit and custody society, with the exception of participation shares of Salvadoran and foreign Open Investment Funds and the deposits referred to in Article 93 of the SP Law.

AFPs must maintain custody accounts in a specialized deposit and custody society for the Fund they administer, properly identified and independent from those of other clients, the AFP, or the same deposit and custody society.

This provision includes the Pension Securities issued in favor of the affiliates of each AFP, transferred from the Public Pension System to the SP and entitled to such recognition.

Notwithstanding the foregoing, AFPs may temporarily keep in their facilities the Transfer Certificates and Supplementary Transfer Certificates until they are replaced.

Art. 5.- Investment transactions carried out with resources from the Funds will be executed under the delivery-versus-payment modality, which must be taken into account for the settlement of operations by the deposit and custody society providing this service.

The AFP may not authorize a deposit and custody society to grant guarantees in favor of third parties and to carry out securities loans belonging to the Funds.

Art. 6.- The AFP must enter into a custody contract with each society providing the deposit and custody service, both for national investments and those made abroad. Regardless of the entity chosen by the AFP for the deposit and custody of securities, it must be legally established in accordance with the Securities Market Law or the laws of its jurisdiction and be authorized by its respective supervisory entities.

Public Registry of the Superintendent
Art. 7.- Deposit and custody societies for securities, both national and foreign, must be recorded in the Public Registry of the Superintendent.

For these deposit and custody societies to be recorded in the Public Registry referred to in the preceding paragraph, in addition to meeting the requirements established in the Superintendent, it will verify that these entities have the security and control systems required by the SP and, in the case of foreign entities, to verify such requirements, it may request certifications from the regulatory and auditing bodies of their countries of origin where they operate.

International custody service
Art. 8.- The securities referred to in letter a) of Article 161 of the SP Law may be custodied by internationally recognized foreign societies, which must be authorized by their respective supervisory entities and recorded in the Registry in accordance with Article 7 of these Standards.

Foreign societies providing the custody service must have a minimum experience of fifteen years in providing said service and have, at least, a risk classification for short or long term, referred to the entity or its securities, not lower than level N-1 or A respectively or its equivalent granted by international risk classification entities.

Furthermore, foreign specialized societies in the deposit and custody service providing the custody service must be participants, directly or through a sub-custodian, in the depositary institutions of foreign investment instruments or operations, with the exception of Open Investment Fund shares.

Bank current accounts opened abroad for the purpose of investments abroad must be contracted with the entity that provides the deposit and custody service to the AFP.

Information on the financial instruments of the Fund Art. 9.- AFPs and deposit and custody societies must communicate or allow daily access to the Superintendent regarding the movements and balances of the financial instruments held in custody, as well as the current accounts belonging to the Funds, opened abroad, in accordance with these Standards.

Art. 10.- The Superintendent may review the electronic records of account entries and auxiliary records, as appropriate, of the financial instruments that AFPs hold in custody in the deposit and custody society or in the sub-custodians contracted by it.

CHAPTER III

ON DEPOSIT AND CUSTODY SOCIETIES FOR SECURITIES

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Art. 11.- To provide the deposit and custody service for the Funds, deposit and custody societies may contract sub-custodians with third local or international institutions when they cannot provide them themselves in certain locations.

In such cases, the custodians will be responsible for the choice of sub-custodians. Without prejudice to the foregoing, sub-custodians must have, at least, a risk classification, for short or long term, referred to the entity or its securities, in accordance with what is established in Article 8 of these Standards. The risk classification requirement may be exempted for sub-custodian entities that are subsidiaries of the custodian, provided that the latter contractually assumes responsibility for any damage caused by the actions of the sub-custodian.

In accordance with the fifth paragraph of Article 79 of the SP Law, national and international deposit and custody societies for securities, with respect to Pension Funds, will make information systems available that allow permanent and real-time consultation by both AFPs and the Superintendent.

Societies providing the deposit and custody service must guarantee the operation of a registry, for each Fund, with daily updated detailed information regarding the financial instruments deposited by the AFP.

Art. 12.- Deposit and custody societies and sub-custodians must keep absolute confidentiality regarding the portfolio of instruments placed under their custody by each AFP.

Authorized persons
Art. 13.- Deposit and custody societies will only act according to instructions coming from persons authorized by the AFP and must maintain the Fund's instruments in such conditions that the AFP can dispose of them expeditiously, as determined by it.

Services provided by the deposit and custody society for securities Art. 14.- The services that any deposit and custody society provides to the Funds in accordance with its nature are the following:

a) The physical custody or electronic account entry of financial instruments deposited in them by AFPs, having for this purpose, as appropriate, computer systems, vaults and adequate physical facilities, security systems, and insurance against fraud, theft, or other contingencies; b) The review of sub-custodian operation standards will be done by the contracted deposit and custody society, assuming all responsibility before the AFP and the Superintendent; c) The transfer and settlement of transactions, consisting of the physical delivery-receipt of titles or electronic account entries, as appropriate, of both stock market transactions and counter operations of the issuer and organized international securities markets, which AFPs are authorized to carry out with resources from the Fund they administer; d) The exercise of patrimonial rights, consisting in the administration of all events related to assets under custody, such as the collection of amortizations, interest, or dividends, as appropriate, and informing of relevant facts for the investments of the Funds; and e) Making available daily information per Fund, of the nominal amount of the portfolio under custody and of the accounts opened abroad, both for the Superintendent and for the AFP itself.

Art. 15.- Deposit and custody societies must not carry out securities lending operations with the financial instruments belonging to the Funds, nor securities loans from third parties to the Funds. These circumstances must be recorded in the respective service provision contracts.

CHAPTER IV

ON PENSION FUND ADMINISTRATORS

Authorization of the Superintendent
Art. 16.- The AFP may not operate with a custodian without express authorization from the Superintendent, which will be issued once it has verified that the society to be contracted is recorded in the Public Registry of the Superintendent and that the respective contract complies with the requirements established in these Standards.

Custody contract for securities
Art. 17.- AFPs must enter into a custody contract for securities with each society providing the deposit and custody service for the financial instruments belonging to the Funds they administer, which must be signed by an authorized person. The deposit and custody society to be contracted must meet the requirements established in these Standards and be previously recorded in the Public Registry of the Superintendent.

Art. 18.- The custody contract for securities regarding special stipulations must comply with at least the following aspects:

a) Obligation of the deposit and custody society to make available to the respective AFP, information permanently and in real-time of any movement produced, such as the inflows and outflows of titles, coupon payments, interest collections, redemptions, maturities, or any other that implies a change in the relevant records of the Pension Fund accounts of the AFP that has contracted the custody service; b) Obligation of the deposit and custody society to make available to the Superintendent, daily information concerning the financial instruments and

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

current accounts belonging to the Funds that are in its possession or in its electronic records. Likewise, the custody entity must allow the Superintendent to review the respective electronic records; c) Express acceptance, by the deposit and custody society, of the fact that debts that the AFP may have with the society cannot be enforced with the securities of the Funds under custody, or with the balance of the current accounts of the referred Funds; d) That the clauses on contract termination provide that the Fund's securities do not remain, at any time, without the custody service; e) That the deposit and custody society is obliged to keep the resources or securities of the Funds available upon request of the AFP; f) Specify the responsibilities that the custody society assumes for acts or omissions before the AFP, as well as the obligation of the deposit and custody society to inform the Funds of patrimonial losses that occur as a consequence of the negligence of said society in the provision of contracted services, recognizing the profitability that the Fund failed to receive; for which a reference interest rate will be established for the recognition of said profitability; g) Services to be contracted, which must comprise those authorized in these Standards; and h) Number and name of the Fund's securities account, the latter being the corresponding institution.

AFPs must keep a backup of the information referred to in letter a) of this article, which will be available to the Superintendent when it requires it.

AFPs must ensure that the deposit and custody contracts they sign do not contain stipulations that contravene what is established in the SP Law and in these Standards regarding the deposit and custody service of securities to be contracted.

Attached documents
Art. 19.- The deposit and custody service contract referred to in Article 18 of these Standards must be sent by the AFP to the Superintendent, twenty business days prior to its signing, requesting its review and approval, for which it must attach the following information:

a) Draft of the Custody Contract to be signed, considering the aspects indicated in Article 18 of these Standards; b) Regulations or Procedure Manuals of the deposit and custody society, regarding operational procedures with clients, duly authorized by the competent authority when applicable for foreign deposit and custody societies; and

c) The draft of the custody contract for securities to be signed, translated into Spanish and risk classification report of the deposit and custody society to be contracted, referred to the entity or its securities, granted by at least one international classification entity, in the case of foreign societies. The referred international risk classification society must be registered in the regulatory body of the securities market of its respective country of origin.

Art. 20.- The Superintendent will communicate to the AFP the observations found so that it can correct them or present additional documentation or information when the documentation or information presented is not sufficient to verify compliance with what is established in these Standards.

The AFP will have a period of ten business days counted from the day following the notification, to correct the deficiencies or to present the documentation and information required by the Superintendent.

The Superintendent may extend by up to ten more business days, the period indicated in the preceding paragraph, when the nature of the observations or deficiencies foreseen so requires.

Extension period
Art. 21.- The AFP may present to the Superintendent a request for extension of the periods indicated in Article 20 of these Standards, must express the grounds on which it is based and propose, if appropriate, the relevant proof.

The extension period may not exceed ten business days and will start from the next business day following the expiration date of the original period.

Suspension of the period
Art. 22.- The twenty-day period indicated in Article 19 of these Standards will be suspended for the days that elapse between the notification of the request and until the AFP corrects the observations required by the Superintendent.

Art. 23.- Once the documents required in due form are presented in accordance with what is established in Article 19 of these Standards, the Superintendent will proceed to give a response on the approval of the draft and the contract may then be signed, which must be duly authenticated.

Art. 24.- The AFP will send to the Superintendent, within the period of twenty business days counted from the date of signing the deposit and custody contract, a notarized copy of said contract. Contracts signed with foreign entities must be presented formalized in accordance with the laws or duly apostilled by treaties and international conventions.

Art. 25.- The AFP must send to the Superintendent, attached to the copy of the contract in reference, the fees, names, and registry of authorized signatures before the contracted deposit and custody society, of the persons authorized to issue instructions against the securities account belonging to the Funds; as well as any modification that is made on this matter in the future.

Art. 26.- Any modification to the contract in reference must be previously approved by the Superintendent, observing what is established in Articles 19, 20, 21, 22, 23, and 24 of these Standards, for the review and approval of the modification, and the sending of the certified copy.

Art. 27.- The AFP will open independent deposit and custody accounts for the financial instruments belonging to the Fund it administers, separating them from those that are in the name of the AFP. In any case, the AFP may not use the accounts of the Fund it administers to hold and carry out operations with instruments that do not belong to said Fund.

Fees for the custody service
Art. 28.- The fees corresponding to the deposit and custody services must be established in the respective contracts.

The fees that the deposit and custody society charges for its services, regarding the financial instruments belonging to the Funds administered by an AFP, must be paid directly by the latter with its own resources.

Requirement for online information from the Pension Fund Administrator Art. 29.- The Superintendent may require, when it deems appropriate, direct real-time access to the information systems of the AFP.

Likewise, the AFP must keep a record of the securities it holds in custody, which must be backed by the respective documentation.

Bank accounts abroad
Art. 30.- Bank current accounts opened abroad for the purpose of investments abroad must be contracted with the entity that provides the custody service to the AFP. The contracts to be signed for such purposes must comply with the same procedure and periods established in Articles 19, 20, 21, 22, 23, 24, and 26 of these Standards.

The resources held in current accounts opened abroad resulting from the payment of interest, collection of coupons, maturities, and sales of instruments, must be transferred to El Salvador no later than the third business day following.

Art. 31.- In the case where the payment of interest on the balances in the current accounts of the Funds is stipulated, it must be indicated in the respective opening contract.

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Art. 32.- The expenses incurred for the opening, maintenance, and overdrafts of the current accounts referred to in Article 30 of these Standards shall be borne by the AFP. The interest and any other earnings generated by the current accounts shall be credited to the Funds.

Art. 33.- The AFP must inform the Superintendence, within the timeframe referenced in Article 24 of these Standards, of the number and name of the bank current accounts owned by the Funds opened at the deposit and custody society, as well as the charges, names, and signature registry of the persons authorized to issue instructions against them, starting from the date of their opening.

Deposit, withdrawal, and transfer of financial instruments

Art. 34.- The deposit, withdrawal, and transfer of financial instruments belonging to the Funds that remain in custody of a deposit and custody society shall be governed by the regulations governing the respective securities market and the rules and procedures of the contracted society.

Custody at the Central Bank

Art. 35.- The Central Bank may provide the service of deposit and custody of the financial instruments acquired with resources from the Pension Funds; when these are financial instruments issued by the ISP, in accordance with what is established in the laws and regulations issued for such purposes.

Art. 36.- The Central Bank will provide information monthly to the Superintendence regarding the financial instruments that are in custody for the Pension Funds.

Loss of financial instruments of the Fund

Art. 37.- When a security is lost, the AFP must communicate this in writing to the Superintendence within one business day counted from the day of the loss; otherwise, it shall be sanctioned in accordance with the SP Law. After making the communication, it may obtain replacement in accordance with the procedure indicated in the Code of Commerce.

Notwithstanding the foregoing, the deposit and custody society, in accordance with Article 79-C of the Securities Market Law, is responsible for the conservation and replacement of a security vis-à-vis the AFP and the Funds it administers.

CHAPTER V
TECHNICAL ASPECTS OF THE ELECTRONIC TRANSFER OF INFORMATION

Access to information from the deposit and custody society

Art. 38.- The deposit and custody society must make available to the Superintendence the daily information on the securities in custody of the Funds, either by allowing real-time access to its database through computer applications, via the Internet, or by electronic data transmission.

Art. 39.- In the event that the Superintendence cannot achieve real-time access to the information from the deposit and custody society, the latter may use other means to provide the information, which must contain as a minimum the fields described in Annexes No. 1 and No. 2 of these Standards.

Submission of information

Art. 40.- Deposit and custody societies will provide daily electronic information to the Superintendence regarding the movement of securities accounts and current accounts, the latter where applicable, as well as the total inventory of financial instruments belonging to the Fund administered by the AFP. To this end, the aforementioned society must create objects such as tables, views, among others, or any other mechanism that displays the information to be viewed or consulted by the Superintendence, or provide access to the required information through web services or computer applications safeguarding the security of the consulted information, for online consultation.

To make possible the consultation of daily movements and the total inventory of the Funds through objects or web services, these must comply with what is established in Annexes No. 1 and No. 2 of these Standards.
The object(s) developed in accordance with the aforementioned Annexes will be consulted daily by the Superintendence, and will be updated by the contracted deposit and custody society, at the close of its operations.
When it concerns operations carried out in international markets, the applicable information will be provided.

Additional information

Art. 41.- Deposit and custody societies must additionally provide information regarding daily movements that imply a change in the records of the Funds' accounts, which includes the maturity of titles, collection of coupons, amortization of capital, among others, indicating the date of occurrence, status of the operation, nominal amount, and other relevant information. Similar information must be provided for the monitoring of bank current accounts opened abroad.

Information to be provided by the Pension Fund Administrators

Art. 42.- Each AFP will have its information and accounting systems online with the Superintendence, such that this supervisory institution can perform queries regarding the investment portfolio of the Funds it administers held in custody.

Art. 43.- Each AFP will inform the Superintendence daily, electronically, of the movement of financial instruments held in custody at each contracted deposit and custody society, or at the Central Bank, for which Annex No. 4 "Technical Standards for the Information Request to Pension Fund Administrators for the Control of Investments" (NSP-41) will be used.

Art. 44.- Each AFP must inform daily of the balances of bank current accounts opened abroad, for which the "Technical Standards for the Information Request to Pension Fund Administrators for the Control of Investments" (NSP-41) will be used.

Art. 45.- Each AFP must additionally send to the Superintendence on a monthly basis, an electronic report of the inventory of financial instruments in custody at the close of each calendar month, valued at the prices corresponding to the closing date provided or authorized by the Superintendence or authorized price-providing entities. The report to be used is Annex No. 8 of the "Technical Standards for the Information Request to Pension Fund Administrators for the Control of Investments" (NSP-41).

Technical details

Art. 46.- Deposit and custody societies that currently provide services to AFPs will continue to provide the information required in Annexes No. 1 and No. 2 of these Standards by the same means.
In the event that a deposit and custody society is registered in the Registry for the first time, the Superintendence will send to said society, with a copy to the Central Bank, the minimum technical details related to the sending or access to the information required in the Annexes referenced in this article, prior to the start of the deposit and custody service to the AFPs.

CHAPTER VI
OTHER PROVISIONS AND VALIDITY

Custody at the Central Bank

Art. 47.- The Central Bank will continue to provide the service of deposit and custody of the financial instruments issued by the State, the Central Bank, and the Pension Obligations Trust acquired with resources from the Pension Funds, prior to the validity of the SP Law.

Recognition of markets

Art. 48.- For the purposes of these Standards, when reference is made to requirements of similar or superior regulation and supervision compared to those of El Salvador, the aspects contemplated in the specific provisions on recognition of markets (NSP-12), approved by the Central Bank through its Standards Committee, must be considered.

Art. 49.- Modifications to the Regulations or Procedure Manuals of the contracted deposit and custody society must be informed to the Superintendence by the aforementioned society.

Sanctions

Art. 50.- Non-compliance with the provisions contained in these Standards will be sanctioned in accordance with what is established in the Law on Supervision and Regulation of the Financial System.

Repeal

Art. 51.- These Standards repeal the "Technical Standards for the Deposit and Custody of Securities for the Pension System" (NSP-17), approved in Session of the Standards Committee No. CN-06/2019 of March 27, 2019 by the Standards Committee of the Central Bank of Reserve of El Salvador.

Unforeseen aspects

Art. 52.- Aspects not foreseen in regulatory matters in these Standards will be resolved by the Central Bank through its Standards Committee.

Validity

Art. 53.- These Standards will enter into force as of December 30, 2022.

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Annex No. 1

DAILY MOVEMENTS OF INFORMATION ON FINANCIAL INSTRUMENTS IN DEPOSIT AND CUSTODY BY AFP AND FUND

The information to be displayed must comply with the following structure:

DESCRIPTION	COMMENT	MANDATORY
AFP CODE	The code assigned by the Superintendence to the AFP. The deposit and custody society must request this code from the Superintendence.	Yes
ISIN CODE	The ISIN code of the financial instrument must be used.	Yes
TITLE CODE	The code of the issuance and tranche or series must be used, when possible, or the ISIN code.	Yes
SHEET NUMBER	For physical instruments, the number of the reported sheet must be specified. For dematerialized instruments, it will be left blank.	Yes
OPERATION DATE	The date on which the operation is performed must be registered in this field.	Yes
OPERATION NUMBER	The corresponding internal movement serial number, assigned by the deposit and custody society, must be specified.	Yes
STOCK EXCHANGE OPERATION	The stock exchange operation number corresponding to the transaction of the reported instrument must be specified.	Yes, for operations carried out in the stock exchange.
MARKET TYPE	It must be specified whether it is a primary market, secondary market, repo, international operation, or if it has been an internal movement of the deposit and custody society.	Yes
NUMBER OF SHEETS	For fixed income or equity instruments, the following must be specified: a) In the case of physical instruments, the number of sheets in custody of the corresponding financial instrument must be reported; and b) For dematerialized instruments, 1 will be placed.	Yes
INITIAL SHEET NUMBER	The initial number of reported sheets must be specified.	Yes, for physical titles.

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Annex No. 1

DAILY MOVEMENTS OF INFORMATION ON FINANCIAL INSTRUMENTS IN DEPOSIT AND CUSTODY BY AFP AND FUND

DESCRIPTION	COMMENT	MANDATORY
FINAL SHEET NUMBER	The final number of reported sheets must be specified.	Yes, for physical titles.
MOVEMENT CODE	The operation code designated by the custody entity for a specific activity must be specified.	Yes
MOVEMENT DESCRIPTION	A description of the movement must be specified.	Yes
ORIGIN ACCOUNT	The account from which the financial instruments originate must be specified.	Yes, when applicable.
DESTINATION ACCOUNT	The destination account of the financial instruments must be specified.	Yes, when applicable.
NOMINAL AMOUNT	The following must be specified: In the case of fixed income instruments: a) Physical titles, the nominal value of each sheet of the instrument must be specified; and b) Titles represented by book entries, the total nominal amount must be indicated. In the case of equity instruments, the total nominal amount in custody must be specified.	Yes

When the information is provided through web services or applications, the content it must comply with will be based on the previous table, which will be communicated by the Superintendence in accordance with what is established in Article 46 of these Standards.

NSP-54
SECURITIES FOR THE PENSION SYSTEM
Approval: 30/12/2022
Validity: 30/12/2022

Annex No. 2

INVENTORY REPORT OF FINANCIAL INSTRUMENTS BELONGING TO THE FUNDS HELD IN DEPOSIT AND CUSTODY

The information to be displayed must comply with the following structure:

DESCRIPTION	COMMENT	MANDATORY
AFP CODE	The code of the AFP assigned by the Superintendence.	Yes
ISIN CODE	The ISIN code of the financial instrument must be used.	Yes
TITLE CODE	The code of the issuance and tranche or series must be used, when possible, or the ISIN code.	Yes
SHEET NUMBER	For physical instruments, the number of the reported sheet must be specified. For dematerialized instruments, it will be left blank.	Yes
ACCOUNT	The number of the securities account assigned to the Pension Fund of the corresponding AFP must be reported.	Yes
NUMBER OF SHEETS	For fixed income or equity instruments, the following must be specified: a) In the case of physical instruments, the number of sheets in custody of the corresponding financial instrument must be reported; and b) For dematerialized instruments, 1 will be placed.	Yes
INITIAL SHEET NUMBER	The initial number of the reported sheets must be specified.	Yes, in case of physical titles.
FINAL SHEET NUMBER	The final number of the reported sheets must be specified.	Yes, in case of physical titles.
NUMBER OF SHARES	The number of shares in custody of the corresponding financial instrument must be specified.	Yes
VAULT CODE	The code of the vault in which the financial instruments are deposited must be specified.	Yes, when sub-custodians exist.
CUSTODY NUMBER	The number of the Custody Securities Receipt issued by the subcontracted custodian in favor of the deposit and custody society must be specified.	Yes, when applicable.
NOMINAL AMOUNT	It must be specified for the case of fixed income instruments: a) Physical titles, the nominal amount of each sheet of the instrument; and b) Titles represented by book entries, the total nominal amount. In the case of equity instruments, the nominal amount of the financial instrument must be specified.	Yes

When the information is provided through web services, the structure it must comply with will be provided by the Superintendence in accordance with what is established in Article 46 of these Standards.