Regulatory Alerts2025-06-19 | A 8259Circular LISOL 1-1104 OPRAC 1-1284: Financing for the Non-Financial Public Sector. Global Debt Securities Issuance Program of the Province of Córdoba for 2025. Interest Rate Incorporation.
The Central Bank of the Argentine Republic issued Communication “A” 8259 to authorize financial entities to issue variable-rate debt securities under the Province of Córdoba’s 2025 Global Debt Issuance Program without triggering credit observation restrictions. The resolution permits the incorporation of the TAMAR rate plus a 550 basis point margin and explicitly prohibits applying foreign currency deposit lending capacity to subscriptions of U.S. dollar-denominated securities, in compliance with Section 2. of the Credit Policy consolidated text. This measure aligns provincial debt issuance with national treasury notes and existing credit risk fractionalization rules while maintaining regulatory oversight.
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