Regulatory Alerts2022-03-29 | RESOLUCIÓN DE DIRECTORIO N° 022/2022Added · Updated
Board Resolution No. 022/2022 Approving the Regulation for the Administration of International Reserves
The Board of Directors of the Central Bank of Bolivia approves the Regulation for the Administration of International Reserves, replacing Resolution No. 107/2021. The regulation establishes investment criteria prioritizing capital preservation, security, liquidity, diversification, and profitability, and defines the structure of reserves into monetary, gold, and SDR holdings. It imposes strict credit risk thresholds, requiring sovereign ratings of at least A (S&P/Fitch) or A2 (Moody’s) for monetary reserves and AA- for gold investments, while capping delegated administration at 15% of monetary reserves and prohibiting investments in offshore entities. Concentration limits are set at 15% for government agencies and supranationals, 5% for banking issuers, and 100% for governments, with a maximum annual credit Value at Risk of 1% for USD-denominated monetary reserves.
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