Regulatory Alerts2023-01-26 | NSP-76Added · Updated
Technical Standards for the Management of the Special Guarantee Contribution and Investments of Pension Fund Administrators
The Committee of Standards of the Central Reserve Bank of El Salvador issued these standards to regulate the Special Guarantee Contribution (AEG) and investments by Pension Fund Administrators (AFPs). The AEG must equal 0.25% of the Real Fund Asset's 15-day average, capped at 3% of the Fund, and is calculated daily with mandatory daily reporting to the Superintendence. AFPs may fund the AEG using own resources or bonds, with specific prohibitions on using bonds from affiliated financial entities and exclusions for Pension Securities. Additionally, AFPs are authorized to invest in Fund Quotas, which can be withdrawn to replenish AEG deficiencies or absorb debts under policies approved by the Superintendence.
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