{"id":1564,"date":"2025-11-10T19:19:51","date_gmt":"2025-11-10T19:19:51","guid":{"rendered":"https:\/\/ics.cr\/?p=1564"},"modified":"2025-11-22T19:32:10","modified_gmt":"2025-11-22T19:32:10","slug":"central-bank-promotes-new-master-agreement-for-financial-derivatives-transactions","status":"publish","type":"post","link":"https:\/\/ics.cr\/en\/banco-central-impulsa-nuevo-contrato-marco-para-operaciones-con-derivados-financieros\/","title":{"rendered":"Central Bank promotes new framework contract for financial derivatives transactions."},"content":{"rendered":"<p>The Central Bank of Costa Rica announced the implementation of a new <a href=\"https:\/\/www.bccr.fi.cr\/comunicacion-y-prensa\/Docs_Comunicados_Prensa\/CP-BCCR-043-2025-Nuevo_contrato_marco_operaciones_bilaterales_derivados_financieros.pdf\" target=\"_blank\" rel=\"noopener\">standardized local master agreement for bilateral transactions with financial derivatives<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewbox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-4-icon-path\">\r\n                            <g fill-rule=\"evenodd\" id=\"action\" stroke=\"none\" stroke-width=\"1\" transform=\"matrix(0.92307696,0,0,0.92307696,-1.8461539,-1.8461539)\">\r\n                                <g transform=\"translate(-270,-45)\">\r\n                                    <g transform=\"translate(272,47)\">\r\n                                        <path d=\"m 20,22 v 2.008845 C 20,25.108529 19.110326,26 18.008845,26 H 16 v -2 h 2 v -2 z m 0,-2 v -2 h -2 v 2 z m -6,6 h -3 v -2 h 3 z M 9,26 H 6 V 24 H 9 Z M 4,26 H 1.991155 C 0.89147046,26 0,25.110326 0,24.008845 V 22 h 2 v 2 H 4 Z M 0,20 v -3 h 2 v 3 z m 0,-5 v -3 h 2 v 3 z M 0,10 V 7.991155 C 0,6.8914705 0.88967395,6 1.991155,6 H 4 V 8 H 2 v 2 z M 6,6 H 8 V 8 H 6 Z\" \/>\r\n                                        <path d=\"M 24.008845,0 C 25.108529,0 26,0.88967395 26,1.991155 v 16.01769 C 26,19.108529 25.110326,20 24.008845,20 H 7.991155 C 6.8914705,20 6,19.110326 6,18.008845 V 1.991155 C 6,0.89147046 6.8896739,0 7.991155,0 Z M 8,2 H 24 V 18 H 8 Z\" \/>\r\n                                        <path d=\"m 21,12 c 0.552285,0 1,-0.447715 1,-1 V 5 C 22,4.4477152 21.552285,4 21,4 h -6 c -0.552285,0 -1,0.4477152 -1,1 0,0.5522847 0.447715,1 1,1 h 3.580002 l -6.287109,6.292893 c -0.390524,0.390524 -0.390524,1.02369 0,1.414214 0.390524,0.390524 1.02369,0.390524 1.414214,0 L 20,7.4190674 V 11 c 0,0.552285 0.447715,1 1,1 z\" \/>\r\n                                    <\/g>\r\n                                <\/g>\r\n                            <\/g>\r\n                        <\/g><\/svg><\/span><\/a>.<br \/>\nThis tool seeks to strengthen risk management and stimulate the development of the domestic financial market.<\/p>\n<p>The document was prepared in conjunction with the International Finance Corporation of the World Bank Group and with the participation of national and international financial institutions and legal advisors.<\/p>\n<p>The new contract conforms to international standards and the Costa Rican legal framework, providing a solid and secure basis for negotiations between local counterparties and reducing legal uncertainty.<\/p>\n<p>The initiative is supported by the Costa Rican Banking Association and the Chamber of Banks and Financial Institutions.<br \/>\nThe contract and an explanatory document are now available on the website of the Central Bank of Costa Rica.<\/p>\n<p>This is a news service prepared by ICS. For more information about the story, write to info@ics.cr or call 2519-9992 ICS, tax specialists.<\/p>\n<style>\r\n.lwrp.link-whisper-related-posts{\r\n            \r\n            margin-top: 40px;\nmargin-bottom: 30px;\r\n        }\r\n        .lwrp .lwrp-title{\r\n            \r\n            \r\n        }.lwrp .lwrp-description{\r\n            \r\n            \r\n\r\n        }\r\n        .lwrp .lwrp-list-container{\r\n        }\r\n        .lwrp .lwrp-list-multi-container{\r\n            display: flex;\r\n        }\r\n        .lwrp .lwrp-list-double{\r\n            width: 48%;\r\n        }\r\n        .lwrp .lwrp-list-triple{\r\n            width: 32%;\r\n        }\r\n        .lwrp .lwrp-list-row-container{\r\n            display: flex;\r\n            justify-content: space-between;\r\n        }\r\n        .lwrp .lwrp-list-row-container .lwrp-list-item{\r\n            width: calc(25% - 20px);\r\n        }\r\n        .lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){\r\n            \r\n            \r\n        }\r\n        .lwrp .lwrp-list-item img{\r\n            max-width: 100%;\r\n            height: auto;\r\n            object-fit: cover;\r\n            aspect-ratio: 1 \/ 1;\r\n        }\r\n        .lwrp .lwrp-list-item.lwrp-empty-list-item{\r\n            background: initial !important;\r\n        }\r\n        .lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text,\r\n        .lwrp .lwrp-list-item .lwrp-list-no-posts-message{\r\n            \r\n            \r\n            \r\n            \r\n        }@media screen and (max-width: 480px) {\r\n            .lwrp.link-whisper-related-posts{\r\n                \r\n                \r\n            }\r\n            .lwrp .lwrp-title{\r\n                \r\n                \r\n            }.lwrp .lwrp-description{\r\n                \r\n                \r\n            }\r\n            .lwrp .lwrp-list-multi-container{\r\n                flex-direction: column;\r\n            }\r\n            .lwrp .lwrp-list-multi-container ul.lwrp-list{\r\n                margin-top: 0px;\r\n                margin-bottom: 0px;\r\n                padding-top: 0px;\r\n                padding-bottom: 0px;\r\n            }\r\n            .lwrp .lwrp-list-double,\r\n            .lwrp .lwrp-list-triple{\r\n                width: 100%;\r\n            }\r\n            .lwrp .lwrp-list-row-container{\r\n                justify-content: initial;\r\n                flex-direction: column;\r\n            }\r\n            .lwrp .lwrp-list-row-container .lwrp-list-item{\r\n                width: 100%;\r\n            }\r\n            .lwrp .lwrp-list-item:not(.lwrp-no-posts-message-item){\r\n                \r\n                \r\n            }\r\n            .lwrp .lwrp-list-item .lwrp-list-link .lwrp-list-link-title-text,\r\n            .lwrp .lwrp-list-item .lwrp-list-no-posts-message{\r\n                \r\n                \r\n                \r\n                \r\n            };\r\n        }<\/style>\r\n<div id=\"link-whisper-related-posts-widget\" class=\"link-whisper-related-posts lwrp\">\r\n            <h2 class=\"lwrp-title\">Related Posts<\/h2>    \r\n        <div class=\"lwrp-list-container\">\r\n                                            <div class=\"lwrp-list-multi-container\">\r\n                    <ul class=\"lwrp-list lwrp-list-double lwrp-list-left\">\r\n                        <li class=\"lwrp-list-item\"><a href=\"https:\/\/ics.cr\/en\/legislature-approves-tax-exemption-for-public-trusts\/\" class=\"lwrp-list-link\"><span class=\"lwrp-list-link-title-text\">Legislative Assembly approves tax exemptions for public trusts<\/span><\/a><\/li><li class=\"lwrp-list-item\"><a href=\"https:\/\/ics.cr\/en\/of-fiscal-interest-but-not-a-taxpayer\/\" class=\"lwrp-list-link\"><span class=\"lwrp-list-link-title-text\">Of fiscal interest but not taxpayer<\/span><\/a><\/li><li class=\"lwrp-list-item\"><a href=\"https:\/\/ics.cr\/en\/\" class=\"lwrp-list-link\"><span class=\"lwrp-list-link-title-text\">ICS Consultores - Tax Lawyers and Tax Advisory Services<\/span><\/a><\/li><li class=\"lwrp-list-item\"><a href=\"https:\/\/ics.cr\/en\/july-31-is-the-deadline-for-receipt-of-crs-and-fatca-financial-account-reports\/\" class=\"lwrp-list-link\"><span class=\"lwrp-list-link-title-text\">July 31 is the deadline for receipt of CRS and FATCA financial account reports<\/span><\/a><\/li>                    <\/ul>\r\n                    <ul class=\"lwrp-list lwrp-list-double lwrp-list-right\">\r\n                        <li class=\"lwrp-list-item\"><a href=\"https:\/\/ics.cr\/en\/solidarity-with-respect-to-tax-debts-notes-on-the-proposed-reform\/\" class=\"lwrp-list-link\"><span class=\"lwrp-list-link-title-text\">Solidarity with respect to tax debts. 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