Regulatory Alerts2011-01-18 | Resolución 007/2011Added · Updated
Board Resolution No. 007/2011
The Board of Directors of the Central Bank of Bolivia amends the Legal Reserve Regulation by increasing the legal reserve rates for foreign currency liabilities: the cash reserve rate rises from 3.5% to 13.5%, and the securities reserve rate decreases from 12% to 8%. The resolution also modifies custody fund requirements, mandating that financial institutions maintain 40% of their foreign currency cash reserve in custody funds, while allowing up to 5% of national currency cash reserves to be held in custody. These changes become effective on February 7, 2011, for banking entities and April 4, 2011, for non-banking entities.
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