Regulatory Alerts2025-12-11 | A 8363Ref.: Circular LISOL 1-1125 OPRAC 1-1297: Financing for the Non-Financial Public Sector. Public Bonds of the Municipality of Rosario – Province of Santa Fe.
The Central Bank of the Argentine Republic issued Communication “A” 8363 to waive regulatory observations for financial institutions acquiring up to $15 billion in public bonds issued by the Municipality of Rosario. This authorization applies to bonds under the 2025 Permanent Pavement and Related Infrastructure Financing Program, provided they comply with specified municipal ordinances, provincial decrees, and national treasury conditions. Participating financial institutions must continue to observe existing credit risk fragmentation provisions while exercising this exemption.
. “Year of the Reconstruction of the Argentine Nation” “Year of the Reconstruction of the Argentine Nation” . COMMUNICATION “A” 8363 11/12/2025 TO FINANCIAL INSTITUTIONS: Ref.: Circular LISOL 1-1125, OPRAC 1-1297: Financing for the Non-Financial Public Sector. Public Bonds of the Municipality of Rosario – Province of Santa Fe–.
We address you to inform you that this Institution has adopted the resolution which, in its relevant part, provides: “- No observations to be filed, within the framework of the restriction contained in point 2.1. of the ordered text on Financing for the Non-Financial Public Sector, regarding financial institutions' ability to acquire public bonds to be issued by the Municipality of Rosario – Province of Santa Fe – up to an amount of $15,000,000,000 (fifteen billion pesos), within the framework of the Program for Financing Permanent Pavement and Related Infrastructure to be issued during the 2025 fiscal year – as provided in municipal Ordinances 10,274, 10,578 and 10,750 and provincial Decrees 2,448/24 and 785/25 – and in accordance with the conditions established in note NO-2025-133021149-APN-SH#MEC of the Treasury Secretariat of the Ministry of Economy of the Nation, without prejudice to compliance by participating financial institutions with the provisions on credit risk fragmentation set forth in that regulation.” Yours faithfully, CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Chief Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation