The Central Bank of Costa Rica announced the availability of a standardized local master agreement for bilateral financial derivatives transactions, which market participants can now use. The central bank expects the document to become the reference contract for transactions between local counterparties. The master agreement was developed jointly with the International Finance Corporation, with input from authorised foreign exchange intermediaries and other entities in Costa Rica’s financial system, supported by international and Costa Rican legal advisers. It is intended to align with international standards while being fully adapted to Costa Rican law, providing a common basis for negotiating bilateral derivatives, reducing legal uncertainty and supporting risk management; access is provided via the Central Bank’s website and the websites of the Costa Rican Banking Association and the Chamber of Banks and Financial Institutions of Costa Rica, alongside a short introductory document.
Central Bank of Costa Rica 2025-11-05
Central Bank of Costa Rica publishes a standardized local master agreement for bilateral financial derivatives
The Central Bank of Costa Rica, in collaboration with the International Finance Corporation, has introduced a standardized local master agreement for bilateral financial derivatives transactions. This agreement, aligned with international standards and adapted to Costa Rican law, aims to serve as the reference contract for local counterparties, reducing legal uncertainty and supporting risk management.