BCRA Circular REMON 1-1132: Minimum Cash Requirements. Adjustments.

"Year of the Reconstruction of the Argentine Nation" COMMUNICATION "A" 8263 26/06/2025 TO FINANCIAL ENTITIES:
Ref.: Circular REMON 1-1132: Minimum Cash Requirements. Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution has adopted the resolution which, in its pertinent part, establishes:
"- To order, effective as of 01/07/25, the suspension of the daily minimum integration requirement in pesos provided for in point 2.3. of the consolidated text on Minimum Cash Requirements." In this regard, we provide you with the pages that, in replacement of those duly provided, should be incorporated into the consolidated text referenced. To this end, it is recalled that on this Institution's website www.bcra.gob.ar, by accessing “Financial System - LEGAL AND REGULATORY FRAMEWORK - Regulations and summaries - Consolidated texts of general regulations”, the modifications made will be found with text highlighted in special characters (strikethrough and bold). We remain, yours sincerely. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Chief Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation ANEXO

7.1. Daily minimum integration.
7.1.1. In foreign currency:
7.1.1.1. As of 01/11/11, the application shortfall of funds in that currency will be excluded from the calculation base for the daily minimum integration requirement in foreign currency.
7.1.1.2. As of 01/06/12, the daily minimum integration requirement in foreign currency referred to in point 2.3. is suspended.
7.1.2. In pesos:
As of 01/07/25, the daily minimum integration requirement referred to in point 2.3. is suspended.
7.2. Reductions in the minimum cash requirement in pesos based on balances of included financings disbursed as of 30/09/22:
7.2.1. Special for entities included in Group A, as provided in Section 4. of the TO on Authorities of Financial Entities and branches or subsidiaries of foreign banks classified as globally systemically important (G-SIB) not included in that group.
The requirement will be reduced by an amount equivalent to 30% of the sum of peso financings to SMEs –according to the definition contained in the TO on Determination of Micro, Small or Medium Enterprise Status– agreed at a maximum interest rate of:
– 40% fixed nominal annual rate up to and including 16/02/2020 (which may continue to be counted until their cancellation).
− 35% fixed nominal annual rate from 17/02/2020.
Financings granted to financial entities not included in the first paragraph may be included in that sum, provided that: i) within 10 business days from the date they receive assistance, those entities allocate the funds to grant financings to SMEs under the conditions of this point and ii) they have a special report from an external auditor –registered in the SEFYC "Auditors Registry"– of the unaffiliated financial entity regarding compliance. The special report: i) must record the dates, amounts, and borrower data for each application, according to the model to be published for this purpose, and ii) must not contain limitations in the scope of tasks, nor opinions with qualifications or abstentions. The external auditor's intervention in all aspects required in this operation falls within the provisions established in the TO on Minimum Standards for External Audits. Version: 35th COMMUNICATION "A" 8263 Effective: 01/07/2025 Page 1 B.C.R.A. MINIMUM CASH REQUIREMENTS Section 7. Transitional Provisions.

The entity may also comply with the preceding requirement by submitting a special report from its Internal Audit whose procedures, scope, and conclusions comply with the aforementioned conditions and model. The average monthly balance of the financed amounts from the period prior to the calculation period of the requirement that meet the stated conditions will be considered. This deduction may not exceed 2% of the peso concepts subject to the requirement, on average, for the month prior to the calculation period.
7.2.2. Special within the framework of the health emergency established by Decree 260/2020.
The requirement will be reduced by an amount equivalent to 40% of the sum of peso financings agreed at a nominal annual interest rate up to 24% destined for SMEs –according to the definition contained in the TO on Determination of Micro, Small or Medium Enterprise Status–, with at least 50% of the amount of these financings allocated to working capital lines, such as salary payments and coverage of deferred checks. The average monthly balance of the financed amounts from the period prior to the calculation period of the requirement that meet the stated conditions will be considered. Financings granted to other financial entities and non-financial credit providers –registered in the corresponding registries enabled by SEFYC– may be included in that sum, provided that: i) within 3 business days from the date they receive assistance, those entities allocate the funds to grant financings to SMEs under the conditions of this point and ii) they have a special report from an external auditor –registered in the SEFYC Auditors Registry–, which complies with point 7.2.1. This deduction may not exceed 4% of the peso concepts subject to the requirement on average, for the month prior to the calculation period, expanding up to 6% if they are the following financings agreed as of 01/07/2020:

• clients who received the assistance provided for in point 7.2.1., up to the total amount equivalent to the monthly payroll (excluding year-end bonus) payable by the applicant; and
• clients who have not received this special assistance, according to the purposes admitted in this point.
  7.2.3. Special within the framework of Decree 332/2020 (and amendments).
  The requirement will be reduced by an amount equivalent to:
  i) 60% of the sum of Zero-Rate Credits, Subsidized Rate Credits for Enterprises and Zero-Rate Culture Credits agreed within the framework of Decree 332/2020 (and amendments) and disbursed as of 05/11/2020; and ii) 24% of the Subsidized Rate Credits for Enterprises disbursed from 06/11/2020 at a nominal annual rate of 27%. Their average monthly balance in the period prior to the calculation of the requirement will be considered.

B.C.R.A. MINIMUM CASH REQUIREMENTS Section 7. Transitional Provisions.
Version: 6th COMMUNICATION "A" 8263 Effective: 01/07/2025 Page 2

MINIMUM CASH REQUIREMENTS	CONSOLIDATED TEXT	ORIGIN REGULATION	OBSERVATIONS
Sec. Point Para.	Comm. Annex Sec. Point Para.
4. 4.1.	“A” 3274 II 4. 4.1.
5. 5.1.	“A” 3274 II 5. 5.1. According to Comm. “A” 3498, 5693 and 6832.
5.2.	“A” 3905 5. According to Comm. “A” 5356 and 5693.
5.3.	“A” 3905 5. According to Comm. “A” 4449, 6167 and 7944.
6. 6.1.	“A” 7983 1.
6.2.	“A” 7983 1. According to Comm. “A” 8018.
6.3.	“A” 7983 1.
6.4.	“A” 7983 1.
6.4.1.	“A” 7983 1.
6.4.2.	“A” 7983 1. According to Comm. “A” 8021.
6.4.3.	“A” 7983 1.
6.5.	“A” 7983 1.
6.5.1.	“A” 7983 1.
6.5.2.	“A” 7983 1.
7. 7.1.1.1.	“A” 5246 3.
7.1.1.2.	“A” 5312 According to Comm. “A” 5333.
7.1.2.	“A” 8263
7.2.	“A” 7536 2.
7.2.1.	“A” 6858 1. According to Comm. “A” 6901, 6907 and 7536.
7.2.2.	“A” 6937 2. According to Comm. “A” 6943, 7054, 7140, 7155, 7536 and 8252.
7.2.3.	“A” 6993 2. According to Comm. “A” 7082, 7157, 7536 and 8252.
7.2.4.	“A” 7342 2. According to Comm. “A” 7536.
7.2. last	“A” 6858 2. According to Comm. “A” 6965, 6993, 7006, 7140, 7132, 7155, 7157, 7161, 7254, 7342 and 7536.
7.3.	“A” 7983 3.
7.4.	“A” 5631 1. According to Comm. “A” 5638, 6217, 6531, 6857, 6910, 6937, 7114, 7334, 7448, 7951, 7983 and 8026.
7.5.	“A” 8062 2. According to Comm. “A” 8124.
7.6.	“A” 7161 5. According to Comm. “A” 7432, 7459, 7474, 7491, 7536, 7561, 7983 and 8159.
7.7.	“A” 7254 1. According to Comm. “A” 7287, 7536, 7970, 8057 and 8159. Includes regulatory clarification.
7.8.	“A” 8215 1.