Regulatory Alerts2010-01-05 | Resolución 007/2010Added · Updated
Board Resolution No. 007/2010
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 73,160,000 coins with denominations of Bs 0.50 and Bs 1.00, totaling a face value of Bs 37,660,000. The resolution designates Director Ernesto Yáñez to represent the Board during the monetization ceremony and charges the Presidency and General Management with executing and complying with the resolution.
BOARD RESOLUTION NO. 007/2010 SUBJECT: MONETARY OPERATIONS MANAGEMENT – AUTHORIZES MONETIZATION OF COINS OF Bs 1.— AND Bs 0.50
VIEWING: The Law No. 901 of November 28, 1986, which creates the “Boliviano” as the legal and mandatory unit of currency. The Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on the Issuance, Exchange, and Destruction of Monetary Material, approved by Board Resolution No. 047/2009 of April 14, 2009. The Coin Minting Contract SANO No. 078/2009 of May 19, 2009, and its Amending Addendum SANO No. 113/2009 of June 15, 2009, signed between the BCB and the Chilean Mint. The Report from the Monetary Operations Management STES No. 005/2010 of January 4, 2010. The Report from the Legal Affairs Management SANO No. 002/2010 of January 4, 2010.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and inalienably the function of issuing Bolivia's monetary unit, in the form of banknotes and metallic coins.
//2. B.R. No. 007/2010
That in accordance with the Coin Minting Contract and its Amending Addendum, the Central Bank of Bolivia has received from the Chilean Mint the first receipt of metallic monetary material. That it is an attribution of the Board according to Article 54, subsection m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins. That Article 9 of the Regulation for the Issuance, Exchange, and Destruction of Monetary Material establishes that it is the faculty of the Board of Directors of the BCB to authorize the monetization of banknotes and coins. That the Report STES No. 005/2010 considers the monetization of coins of the denominations Bs 1.— and Bs 0.50 necessary and recommends that the Board of Directors of the BCB consider the monetization of the monetary material delivered to the vault by the supplier, the Chilean Mint. That in the opinion of the Legal Affairs Management according to Report SANO No. 002/2010, there is no legal impediment for the Board of Directors of the BCB, in attention to its faculties and competencies, to approve the monetization of coins of the denominations Bs 1.— and Bs 0.50.
THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Authorize the monetization of coins of the denominations Bs 1.— and Bs 0.50 according to the following detail:
DENOMINATION NUMBER OF PIECES VALUE IN Bs. 0.50 71,000,000 35,500,000 1.— 2,160,000 2,160,000 TOTAL 73,160,000 37,660,000
Article 2.- Designate Director Ernesto Yáñez to represent the Board in the act of monetization of the cited material.
//3. B.R. No. 007/2010
Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.
La Paz, January 5, 2010
Gabriel Loza Tellería
Gustavo Blacutt Alcalá Hugo Dorado Araníbar
Rolando Marín Ibáñez Ernesto Yáñez Aguilar
Rafael Boyán Téllez
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