Board Resolution No. 024/2013

BOARD RESOLUTION NO. 024/2013
SUBJECT: MONETARY OPERATIONS MANAGEMENT — APPROVES MODIFICATIONS TO THE REGULATION FOR THE GRANTING OF CREDIT TO NATIONAL STRATEGIC PUBLIC ENTERPRISES WITHIN THE FRAMEWORK OF THE GENERAL STATE BUDGET — FISCAL YEARS 2010, 2011, 2012 and 2013.

HAVING SEEN:
Law No. 1670, of October 31, 1995, of the Central Bank of Bolivia (BCB).
The Statute of the BCB, approved by Board Resolution No. 128/2005, of October 21, 2005, and its subsequent modifications.
Board Resolution No. 023/2011, of February 22, 2011, which approves the Regulation for the Granting of Credit to National Strategic Public Enterprises within the framework of the General State Budget — Fiscal Years 2010 and 2011, modified by Board Resolutions No. 026/2011 of March 2, 2011, No. 027/2011 of March 18, 2011, No. 030/2011 of March 22, 2011, No. 097/2011 of August 9, 2011, No. 039/2012 of March 23, 2012 and No. 064/2012 of May 29, 2012. Law No. 317 dated December 11, 2012, which approves the General State Budget for fiscal year 2013 (PGE-2013). The Report from the Monetary Operations Management BCB-GOM-SOSP-DCE-INF-2013-5 of March 6, 2013. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2013-68 of March 8, 2013.

CONSIDERING:
That by Board Resolution No. 023/2011, the BCB Board of Directors approved the Regulation for the Granting of Credit to National Strategic Public Enterprises within the framework of the General State Budget — Fiscal Years 2010 and 2011, which was modified by Board Resolutions No. 026/2011, No. 027/2011, No. 030/2011, No. 097/2011, No. 039/2012 and No. 64/2012, with the objective of regulating the granting of credits in favor of National Strategic Public Enterprises (EPNE).

Law No. 317 which approves the PGE-2013, in its article 25, authorizes the reallocation of internal credit from the BCB in favor of Yacimientos Petroliferos Fiscales Bolivianos (YPFB).

Likewise, the aforementioned Law in its article 22, extends for the 2013 fiscal year, the validity of article 8 of Law No. 50, modified by article 13 of Law No. 62, for the resources of credit authorized to ENDE not committed, to which effect it releases this company from the application of articles 33 and 35 of Law No. 2042 on Budgetary Administration.

That within the framework of what is provided by Law No. 317, for the consideration of new credit requests to be presented by the EPNE, it is necessary to adapt the Regulation for the Granting of Credit to National Strategic Public Enterprises within the framework of the General State Budget — Fiscal Years 2010, 2011 and 2012, incorporating the provisions of the aforementioned PGE-2013 Law.

That the Monetary Operations Management through Report BCB-GOM-SOSP-DCE-INF-2013-5, concludes that it is necessary to adapt the Regulation for the Granting of Credit to National Strategic Public Enterprises, and recommends to the BCB Board of Directors to approve the modification of article 1 of the aforementioned Regulation and its denomination.

That the Legal Affairs Management through report BCB-GAL-SANO-INF-2013-68, concludes that the proposal to adapt the Regulation for the Approval of Credit to National Strategic Public Enterprises within the framework of the General State Budget — Fiscal Years 2010, 2011, 2012 and 2013, is legally appropriate, since it does not contravene the current legal framework, being the competence of the BCB Board of Directors to consider its approval by two-thirds of the votes of all its members, in accordance with what is established in article 54 subsection o) of Law No. 1670 and article 24 of the Institution's Statute, and recommends that it be submitted for consideration by the Board of Directors.

That article 11 numeral 29 of the BCB Statute, concordant with article 54 subsection o) of Law No. 1670, establishes that the Board of Directors has the authority to approve, modify and interpret the Statute and regulations by two-thirds of the votes of its members, without the need for any additional administrative act.

THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Modify the denomination of the "Regulation for the Granting of Credit to National Strategic Public Enterprises within the framework of the General State Budget - Fiscal Year 2010, 2011 and 2012" in the following terms:

SAYS:
REGULATION FOR THE GRANTING OF CREDIT TO NATIONAL STRATEGIC PUBLIC ENTERPRISES WITHIN THE FRAMEWORK OF THE GENERAL STATE BUDGET - FISCAL YEAR 2010, 2011 and 2012

SHOULD SAY:
"REGULATION FOR THE APPROVAL OF CREDIT TO NATIONAL STRATEGIC PUBLIC ENTERPRISES WITHIN THE FRAMEWORK OF THE GENERAL STATE BUDGET — FISCAL YEARS 2010, 2011, 2012 and 2013"

Article 2.- Modify article 1 of the aforementioned Regulation, as follows:

SAYS:
Article 1.- (Object)
This Regulation aims to regulate the granting of credits by the Central Bank of Bolivia (BCB) in favor of National Strategic Public Enterprises (EPNE), within the framework provided in the General State Budget Fiscal Year 2010, reformed by Law No. 50, of October 9, 2010, the Budget 2011 approved by Law No. 62, of November 28, 2010 and the Budget 2012, approved by Law No. 211, of December 23, 2011.

SHOULD SAY:
"Article 1.- (Object)
This Regulation aims to regulate the granting of credits by the Central Bank of Bolivia (BCB) in favor of National Strategic Public Enterprises (EPNE), within the framework provided in the General State Budget Fiscal Year 2010, reformed by Law No. 50, of October 9, 2010 and the Budget 2011 approved by Law No. 62, of November 28, 2010, the Budget 2012, approved by Law No. 211, of December 23, 2011 and the Budget 2013 approved by Law No. 317 dated December 11, 2012."

Article 3.- The adjustments to the Regulation for the Approval of Credit to National Strategic Public Enterprises within the framework of the General State Budget - Fiscal Years 2010, 2011, 2012 and 2013, will enter into force from the date of approval of this Resolution.

Article 4.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, March 12, 2013

[Signatures]

Rolando Marín Ibáñez
Blanca Alarcón
Hugo Dorado Aranívar