El Salvador Financial Sector Assessment Program Development Module : Financial Infrastructure
This note was prepared in the context of a World Bank Financial Sector Assessment Program (FSAP) mission in El Salvador in March 2016. Since the last FSAP, the national payments system (NPS) has consolidated and expanded. The real-time gross settle...
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| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/542301487930465946/El-Salvador-Financial-sector-assessment-program-financial-infrastructure http://hdl.handle.net/10986/26280 |
| Summary: | This note was prepared in the context of
a World Bank Financial Sector Assessment Program (FSAP)
mission in El Salvador in March 2016. Since the last FSAP,
the national payments system (NPS) has consolidated and
expanded. The real-time gross settlement (RTGS) systems
owned and operated by the Banco Central de Reserva de El
Salvador (BCR) is the backbone of the NPS and is widely
subscribed by both banks and supervised non-bank financial
institutions. In 2013, the BCR launched a service for
government disbursements called Sistema de Pagos Masivos
(SPM). ATM and POS terminal deployment in El Salvador is
below the average for the Latin America and the Caribbean,
but above the average for lower-middle income countries.
Notwithstanding these positive developments, the payments
system remains exposed to certain risks and presents areas
of inefficiency that the BCR aims to address comprehensively
and in stages through a revised national payment system
strategy. The note contains technical analysis and detailed
information underpinning the FSAP assessment’s findings and
recommendations. Further information on the FSAP program can
be found at www.worldbank.org/fsap. |
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