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Friday, 16 March 2012 10:00


Fotografía de Lobby del Edificio del BCR sobre la Juan Pablo II

As one of their principal responsibilities, Central Reserve Bank of El Salvador has to contribute to achieve a transparent financial system for the country, managing Salvadoran people resources to support economic growth; to analyze, monitor, elaborate and divulgate economic and financial statistics, obeying mandatory of its Fundamental Law.

Central Bank has a fundamental role in financial and economic environment and the commitment to be a technical, nonpolitical, transparent institution, that maintains a large term vision of the country, focused on contributing to economic stability of El Salvador.

Since Monetary Integration Law get in force, on January 1st., 2001, Central Reserve Bank of El Salvador concentrates in dealing with the following economic strategic areas:

  •   Regulation and Monitoring Financial System
  •   International Reserves Administration  
  •   Payments System and Financial Services
  •   Financial Agent to the Government
  •   Export Services
  •   Economic and Financial Statistics, Projections and Studies


Regulation and Monitoring of Financial System


Fotografía de fachada de Edificio del BCR ubicado sobre la 2a. Calle Poniente

Central Bank monitors and studies permanently the financial system performance and proposes regulations to promote its stability and development, on benefit of people, and as a contribution to country’s growth.   It controls financial institutions to fulfill requirements of liquidity reserves.  These are funds that each bank has to have as a reserve in proportion to its deposits, to guarantee people’s savings.

This is one of the most important functions of the Central Bank, as economic growth needs a competitive and modern financial system, that operates with stability and security for users.

International Reserves Administration 

Central Bank administrates international reserves and has the challenge to obtain profitability levels that allow to preserve or increase their value, making investments abroad that assure a high availability and observing an investment policy limiting risks.


Payments System and Financial Services

Imagen de Billetes y monedas en Dolares

Central Bank facilitates settlements within enterprises and people, through a Payments System.  It pays checks through Bank/Currency Clearing House, charging them in deposits accounts banks held in Central Bank; money is available for the user the second day after the check is deposited, thanks to this action.   Also, it pays operations within banks, charging them in deposits accounts that banks keep in Central Bank.

 

Financial Agent Services for the Government

Central Bank is the financial agent to the Government.  Bank receives deposits from the Government, makes payment on its behalf, gives it advisory for bonds and debt securities issues and sales in international and domestic financial markets, administrates the issues and watches over the country pays punctually its loans’ responsibilities with other countries.  The latest two actions are complimentary.   Responsibility of El Salvador in paying acquired commitments is recompensed by international markets, as at the moment the country issues securities in those markets, selling them is easier and faster.

 

Export Services

Export Procedures Center, in short CENTREX,  is part of Central Bank since 1989.   It provides information and authorization services, at real time, for Salvadoran exports, through efficient and reliable systems that help them to be competitive in foreign markets, specially since got in force Free Trade Agreements and commercial opening experienced through the last years. 

Export documents, certifications, products visas and origin certificates are extended by CENTREX, making it easier for hundreds of small, medium and large exporters.

 

Economic and Financial Statistics, Projections and Studies  

 

Imagen de calculadora e información representando las estadísticas, proyecciones y estudios economicos y financieros

Central Reserve Bank shares responsibility in economic management of the State, through elaboration of technical studies and macroeconomic statistics and projections, based on methodologies fulfilling international standards that assure comparative data within countries.   This information strengthen expectations of economic agents.

Central Bank generates financial and economic information used by the Government, private sector and foreign investors to take investment decisions and elaborate future plans.   Monetary data, national accounts, balance of payments, fiscal sector statistics and other information divulgated, form part of statistics of expenditures, income, production, investment, debt and savings of the country.

Also, the Bank makes fundamental studies about national importance themes, as family remittances, employment generation originated by free trade agreements or financial stability, giving diagnoses of financial and economic evolution of the country,  at current and at long term, focused to results in order to influence economic and financial expectations of different agents.

As part of advisory services the Bank offers to Government, it’s related to risk qualification agencies, as Standard and Poor’s, Fitch’s and Moody’s, and to international organizations, as the International Monetary Fund –FMI, World Bank and Economic Commission for Latin America –CEPAL, that comment, worldly and at Latin America level,  about payment capability and economic stability of countries.

 

Economic Culture and Educational Commitment

Fotografía de la fachada del edificio de la Biblioteca Luis Alfaro Durán

As part of its social responsibility, Central Bank supports youth education through the Scholarship Fund of the Central Reserve Bank of El Salvador. It had financed technical, university and postgraduate studies for more than 4,000 students, academically outstanding, but limited of economic resources, to honor its ineludible commitment of promoting educative culture in the country.

Bank favors study of economic and financial themes, through its annually realized Technical Research Contest, inviting students cursing last year of high school, as a way to encourage the economic and financial research in the country.

Central Bank also has a Public Library, Biblioteca Luis Alfaro Durán, that has more than 30,000 economic and financial specialized books, that can be consulted by students, professionals and researchers.   

Technical discussion of macroeconomic and financial current issues is promoted, through Conferences.   Central Bank contacts national and international experts to share their experience in economic science achievements and better international practices in specialized areas of finance and economy and other matters of interest for people.

Last Updated on Monday, 02 July 2012 08:42
 
Banco Central de Reserva de El Salvador
República de El Salvador, C. A
Alameda Juan Pablo II, entre 15 y 17 Av. Norte. Apartado Postal (106), San Salvador, El Salvador.
Tels. (503) 2281-8000; Fax. (503) 2281-8011.    E-mail: info@bcr.gob.sv