Regulatory Alerts2026-09-08 | NPBT-18Added
Temporary Technical Standards for the Calculation of the Liquidity Reserve on Deposits and Other Obligations
The Standards establish temporary liquidity reserve coefficients for Salvadoran financial entities, including banks, credit unions, and investment banks, based on specific account codes and maturity profiles. Compliance requires calculating average daily balances over 14-day periods starting on Tuesdays, with a subsequent 14-day compliance period starting on the following Wednesday. The reserve must be held in US dollars or Central Bank securities, with specific allocation requirements for central bank deposits versus external investments, and the rules apply from September 9, 2026, to February 23, 2027.
Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv Page 1 of 10 CNBCR-06/2026 NPBT-18 TEMPORARY TECHNICAL STANDARDS FOR THE CALCULATION OF THE LIQUIDITY RESERVE ON DEPOSITS AND OTHER OBLIGATIONS Approval: 08/09/2026 Validity: 09/09/2026
THE STANDARDS COMMITTEE OF THE CENTRAL RESERVE BANK OF EL SALVADOR,
CONSIDERING: I. That Articles 45, fourth paragraph, and 47 of the Banks Law, Articles 28, fourth paragraph, and 30 of the Cooperative Banks and Savings and Credit Societies Law, and Articles 30, fourth paragraph, and 31 of the Investment Banks Law, establish the need to issue relevant norms to apply provisions related to the establishment of the liquidity reserve. II. That Article 99, letter a), of the Law for the Supervision and Regulation of the Financial System, establishes that it is the responsibility of the Standards Committee to issue resolutions such as the approval of technical norms, instructions, and provisions that the laws regulating supervised entities establish must be issued to facilitate their application, especially those related to solvency and liquidity requirements. III. That Article 100 of the Law for the Supervision and Regulation of the Financial System establishes that exceptionally, in circumstances that foresee the occurrence of possible imbalances in the financial system or for reasons of social interest, the Standards Committee with at least two of its members may issue, without further procedure, technical norms of a temporary nature and immediate validity, without the prior consultation referred to in said article. The validity of the norms may not exceed one hundred and eighty days.
THEREFORE, in virtue of the regulatory powers conferred by Article 100 of the Law for the Supervision and Regulation of the Financial System,
AGREES to issue the following:
TEMPORARY TECHNICAL STANDARDS FOR THE CALCULATION OF THE LIQUIDITY RESERVE ON DEPOSITS AND OTHER OBLIGATIONS
CHAPTER I OBJECT, SUBJECTS, AND TERMS
Object Art. 1.- These Standards aim to establish temporary parameters for the Liquidity Reserve requirement, in order to strengthen the liquidity of the financial system and ensure its stability.
Subjects Art. 2.- The subjects obligated to comply with the provisions established in these Standards are: a) Banks constituted in El Salvador; b) Branches of foreign banks established in El Salvador; c) Savings and credit societies; d) Cooperative banks; e) Federations formed by cooperative banks and also by savings and credit societies; and f) Investment banks.
Terms Art. 3.- For the purposes of these Standards, the terms indicated below have the following meaning: a) Central Bank: Central Reserve Bank of El Salvador; b) Standards Committee: Standards Committee of the Central Reserve Bank of El Salvador; c) Entities: Subjects obligated to comply with these Standards according to Article 2 thereof; d) LR: Liquidity Reserve; and e) Superintendence: Superintendence of the Financial System.
CHAPTER II TEMPORARY CALCULATION OF THE LIQUIDITY RESERVE REQUIREMENT
Coefficients of obligations subject to reserve Art. 4.- During the validity of these Standards, the coefficients applicable for the calculation of the Liquidity Reserve requirement are the following: a) Coefficients applicable to the obligated subjects described in letters a), b), c), d), and e) of Article 2 of these Standards:
| Code | Account Names | % Coefficients |
|---|---|---|
| 211001 | Demand Deposits – Checking Accounts | 16 |
| 211002 | Demand Deposits – Savings Accounts | 14.5 |
| 211003 | Demand Deposits – Savings Accounts – Simplified Savings Account Deposits | 14.5 |
| 2111 | Agreed Deposits up to one year term | 11.5 |
| 211201 | Time Deposits – Agreed for more than one year term | 11.5 |
| 211202 | Time Deposits with special liquidity reserve (CEDEVIV and CEDAGRO) | 10 |
| 211202 | Time Deposits with special liquidity reserve (For the cancellation of agricultural and livestock debt) | 1 |
| 211203 | Deposits in guarantee of letters of credit – Agreed for more than one year term | 11.5 |
| 211204 | Programmed savings deposits – Agreed for more than one year term | 11.5 |
| 211301 | Negotiable Deposit Certificates | 11.5 |
| 211401 | Restricted and inactive deposits – in guarantee – savings accounts | 14.5 |
| 211402 | Restricted and inactive deposits – in guarantee – time deposits | 11.5 |
| 211403 | Restricted and inactive deposits – attached – checking accounts | 16 |
| 211404 | Restricted and inactive deposits – attached – savings accounts | 14.5 |
| 211405 | Restricted and inactive deposits – attached – time deposits | 11.5 |
| 211406 | Restricted and inactive deposits – inactive – checking accounts | 16 |
| 211407 | Restricted and inactive deposits – inactive – savings accounts | 14.5 |
| 211408 | Restricted and inactive deposits – in guarantee – simplified savings account | 14.5 |
| 211409 | Restricted and inactive deposits – attached – simplified savings account | 14.5 |
| 211410 | Restricted and inactive deposits – inactive – simplified savings account | 14.5 |
| 2116080101 | Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ML | 3 |
| 2116080102 | Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ME | 3 |
| 2116080201 | Agreed Loans up to one year term - Owed to foreign banks for credit lines – ML | 3 |
| 2116080202 | Agreed Loans up to one year term - Owed to foreign banks for credit lines – ME | 3 |
| 2116080301 | Agreed Loans up to one year term - Owed to foreign banks – others – ML | 3 |
| 2116080302 | Agreed Loans up to one year term - Owed to foreign banks – others – ME | 3 |
| 2116080501 | Agreed Loans up to one year term - Owed to foreign cooperatives – ML * | 3 |
| 2116080502 | Agreed Loans up to one year term - Owed to foreign cooperatives – ME * | 3 |
| 2116089901 | Agreed Loans up to one year term - Interest and other payables – ML | 3 |
| 2116089902 | Agreed Loans up to one year term - Interest and other payables – ME | 3 |
| 2117080101 | Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ML | 3 |
| 2117080102 | Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ME | 3 |
| 2117080201 | Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ML | 3 |
| 2117080202 | Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ME | 3 |
| 2117080301 | Agreed Loans for more than one year term - Owed to foreign banks – others – ML | 3 |
| 2117080302 | Agreed Loans for more than one year term - Owed to foreign banks – others – ME | 3 |
| 2117080501 | Agreed Loans for more than one year term - Owed to foreign cooperatives – ML * | 3 |
| 2117080502 | Agreed Loans for more than one year term - Owed to foreign cooperatives – ME * | 3 |
| 2117089901 | Agreed Loans for more than one year term - Interest and other payables – ML | 3 |
| 2117089902 | Agreed Loans for more than one year term - Interest and other payables – ME | 3 |
| 2130010201 | Demand Obligations – Own Checks - certified - ML | 16 |
| 2130010202 | Demand Obligations – Own Checks - certified – ME | 16 |
| 212001 | Own Issuance Titles – Agreed for less than one year term | 15 |
| 212001 | Own Issuance Titles at one year term | 5 |
| 212002 | Issuance Titles – Convertible Bonds Agreed up to one year term | 5 |
| 212003 | Own Issuance Titles - Agreed for more than one year and less than five years term | 5 |
| 212004 | Own Issuance Titles - Agreed for five or more years term (Includes those agreed for 5 years term guaranteed with State bonds for the Conversion and Consolidation of guaranteed internal debt). | 1 |
| 212006 | Other own issuances agreed for less than one year term | 15 |
| 212006 | Other own issuances agreed for one year term | 5 |
| 212007 | Other own issuances agreed for more than one year and less than five years term | 5 |
| 212008 | Other own issuances agreed for five or more years term | 5 |
| 5120010002 | Contingencies by Guarantees and Sureties - Guarantees for less than five years term – ME | 5 |
| 5120040002 | Contingencies by Guarantees and Sureties - Sureties for more than five years term – ME | 5 |
- Accounts applicable only to cooperative banks and federations.
b) Coefficients applicable to the obligated subjects described in letter f) of Article 2 of these Standards:
| Code | Account Names | % Coefficients |
|---|---|---|
| 211001 | Demand Deposits – Checking Accounts | 16 |
| 211002 | Demand Deposits – Savings Accounts | 14.5 |
| 2111 | Agreed Deposits up to one year term | 11.5 |
| 211201 | Time Deposits – Agreed for more than one year term | 11.5 |
| 211203 | Deposits in guarantee of letters of credit – Agreed for more than one year term | 11.5 |
| 211204 | Programmed savings deposits – Agreed for more than one year term | 11.5 |
| 211301 | Negotiable Deposit Certificates | 11.5 |
| 211401 | Restricted and inactive deposits – in guarantee – savings accounts | 14.5 |
| 211402 | Restricted and inactive deposits – in guarantee – time deposits | 11.5 |
| 211403 | Restricted and inactive deposits – attached – checking accounts | 16 |
| 211404 | Restricted and inactive deposits – attached – savings accounts | 14.5 |
| 211405 | Restricted and inactive deposits – attached – time deposits | 11.5 |
| 211406 | Restricted and inactive deposits – inactive – checking accounts | 16 |
| 211407 | Restricted and inactive deposits – inactive – savings accounts | 14.5 |
| 2116060101 | Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ML | 3 |
| 2116060102 | Agreed Loans up to one year term - Owed to foreign banks for letters of credit – ME | 3 |
| 2116060201 | Agreed Loans up to one year term - Owed to foreign banks for credit lines – ML | 3 |
| 2116060202 | Agreed Loans up to one year term - Owed to foreign banks for credit lines – ME | 3 |
| 2116060301 | Agreed Loans up to one year term - Owed to foreign banks – others – ML | 3 |
| 2116060302 | Agreed Loans up to one year term - Owed to foreign banks – others – ME | 3 |
| 2116069901 | Agreed Loans up to one year term - Interest and other payables – ML | 3 |
| 2116069902 | Agreed Loans up to one year term - Interest and other payables – ME | 3 |
| 2117060101 | Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ML | 3 |
| 2117060102 | Agreed Loans for more than one year term - Owed to foreign banks for letters of credit – ME | 3 |
| 2117060201 | Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ML | 3 |
| 2117060202 | Agreed Loans for more than one year term - Owed to foreign banks for credit lines – ME | 3 |
| 2117060301 | Agreed Loans for more than one year term - Owed to foreign banks – others – ML | 3 |
| 2117060302 | Agreed Loans for more than one year term - Owed to foreign banks – others – ME | 3 |
| 2117069901 | Agreed Loans for more than one year term - Interest and other payables – ML | 3 |
| 2117069902 | Agreed Loans for more than one year term - Interest and other payables – ME | 3 |
| 2130010201 | Demand Obligations – Own Checks - certified - ML | 16 |
| 2130010202 | Demand Obligations – Own Checks - certified – ME | 16 |
| 212001 | Own Issuance Titles – Agreed for less than one year term | 15 |
| 212001 | Own Issuance Titles at one year term | 5 |
| 212002 | Issuance Titles – Tokenized Titles Agreed for less than one year term | 15 |
| 212002 | Issuance Titles – Tokenized Titles Agreed for one year term | 5 |
| 212003 | Own Issuance Titles - Agreed for more than one year and less than five years term | 5 |
| 212004 | Own Issuance Titles - Agreed for five or more years term (Includes those agreed for 5 years term guaranteed with State bonds for the Conversion and Consolidation of guaranteed internal debt). | 1 |
| 212005 | Issuance Titles – Tokenized Titles Agreed for more than one year Term | 5 |
| 5120010002 | Contingencies by Guarantees and Sureties - Guarantees for less than five years term – ME | 5 |
| 5120040002 | Contingencies by Guarantees and Sureties - Sureties for more than five years term – ME | 5 |
To the resulting amount, a percentage equivalent to 68% of the balance that entities subject to the “Technical Standards for the Calculation and Use of the Liquidity Reserve on Deposits and Other Obligations” (NRP-28) reported in account 111001 “Cash on Hand” as of September 30, 2022 (rounded to two decimals), will be deducted, and it will remain valid until the end of the validity of these Temporary Standards. The Superintendence will verify that the balance that entities maintain in account 111001 “Cash on Hand” is equal to or greater than the cash discount established in the previous paragraph. In the text of these Standards, the expression “obligations” will include all the aforementioned liabilities. In no case shall the global amount of the required reserve exceed twenty-five percent of the obligations.
Temporary calculation of the required liquidity reserve Art. 5.- The temporary calculation of the required liquidity reserve will be the amount resulting from applying the coefficients established in accordance with Article 4 of these Standards to the average balance of the obligations subject to reserve. The average daily balances must be those corresponding to the calculation period of the reserve requirement. This period will consist of fourteen consecutive days prior to the compliance period, which will always begin on Tuesdays and end on Mondays. In the case of non-business days included within a calculation period of the reserve requirement, the balance of the previous business day will be taken. For the purposes of these Standards, non-business days will be Saturdays, Sundays, and days closed by the Superintendence; business days include days from Monday to Friday, even if they correspond to balance preparation days. The Superintendence will calculate and inform each of the obligated subjects, on the business day after the calculation period has concluded, the required reserve.
Compliance Period Art. 6.- The compliance period of the reserve comprises fourteen days, which will begin on the Wednesday after the conclusion of the reserve requirement calculation period. It will be understood that an entity has complied with the reserve requirement when, at the end of the compliance period, an average equal to or greater than the required reserve is obtained.
Constitution of reserves Art. 7.- The reserve may be constituted totally or partially in the Central Bank, in the form of demand deposits in United States dollars or in securities issued by it in the same currency. The reserve may also be invested abroad and must be integrated by the following tranches: a) The equivalent to twenty-five percent (25%) of the reserve requirement, in the form of a demand deposit in the Central Bank or the foreign bank in question; b) The equivalent to twenty-five percent (25%) of the reserve requirement, in the form of demand deposits in the Central Bank or the foreign bank in question; or securities issued by the Central Bank for the purposes of the liquidity reserve; and c) The remaining fifty percent (50%) in securities issued by the Central Bank or demand deposits in the Central Bank for the purposes of the liquidity reserve. In the case where the obligated subject decides to invest part of the reserve in foreign banks, it must comply with what is established in the “Technical Standards for the Investment of Liquidity Reserves Abroad” (NPB3-10). The obligated subjects described in letters d), e), and f) of Article 2 of these Standards, according to the Cooperative Banks and Savings and Credit Societies Law and the Investment Banks Law, cannot invest the Liquidity Reserve abroad; consequently, the provisions in the previous paragraphs referring to such investments do not apply to them. In the case where cooperative banks decide to invest up to 50% of the reserve in time deposits in local banks, they must comply with what is established in Annex No. 4 of the “Technical Standards for the Calculation and Use of the Liquidity Reserve on Deposits and Other Obligations” (NRP-28).
CHAPTER III OTHER PROVISIONS AND VALIDITY
Exception of application Art. 8.- During the validity of these Temporary Standards, the provisions contained in Chapters II and III of the “Technical Standards for the Calculation and Use of the Liquidity Reserve on Deposits and Other Obligations” (NRP-28), referring to the calculation of the reserve requirement and the constitution of this, respectively, will not be applicable.
Sanctions Art. 9.- Non-compliance with the provisions contained in these Standards will be sanctioned in accordance with what is established in the Law for the Supervision and Regulation of the Financial System.
Unforeseen aspects Art. 10.- Aspects not provided for in terms of regulation in these Standards will be resolved by the Central Bank through its Standards Committee.
Validity Art. 11.- The validity of these Standards will be from September 9, 2026, to February 23, 2027.
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