RegAlert2014-04-03 | RESOLUCION DE DIRECTORIO Nº 027/2014Added · Updated
Board Resolution No. 027/2014
The Board of Directors of the Central Bank of Bolivia amends Article 15, Paragraph III of the Regulation for the Administration of International Reserves to extend the maximum investment horizon for the Global Portfolio from two years to ten years, while maintaining the two-year limit for the Euro Portfolio. This modification is implemented to facilitate investments in Chinese Sovereign Bonds. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BCB published 10 documents in the last 30 days — get each new one by email the day it lands.
BOARD RESOLUTION NO. 027/2014
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT — MODIFIES THE REGULATION FOR THE ADMINISTRATION OF INTERNATIONAL RESERVES.
HAVING SEEN:
Law No. 1670 of October 31, 1995.
The Statute of the Central Bank of Bolivia of October 21, 2005.
The Regulation for the Administration of International Reserves approved by Board Resolution No. 075/2012 of June 26, 2012.
The Report from the International Operations Management BCB-GOI-SRES-DNI-INF-2014-7 of March 19, 2014.
The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2014-79 of March 21, 2014.
CONSIDERING:
That Law No. 1670 of October 31, 1995 provides that the BCB shall administer and manage its international reserves in the manner it considers most appropriate for the fulfillment of its object and functions and for their adequate safeguarding and security.
That the Regulation for the Administration of International Reserves in Article 15, Paragraph III, establishes that the Euro and Global Portfolios have a maximum investment term of two (2) years.
That the International Operations Management, through Report BCB-GOI-SRES-DNI-INF-2014-7, recommends extending the maximum investment term in the Global Portfolio to 10 years, to allow investments in Chinese Sovereign Bonds.
That the Legal Affairs Management in Report BCB-GAL-SANO-2014-79 establishes that the proposal of the International Operations Management to modify Paragraph III of Article 15 of the Regulation for the Administration of International Reserves is legally appropriate since it does not contravene the current legal framework, being the competence of the BCB Board 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.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
[Signatures]
Rafael Ojeda Tellez
Perez Alandia
Roland Ez Alvar. Rodrig Rojas Reynaldo Yujra Sega
1/2. B.D. No. 027/2014
Article 1.- Modify Paragraph III of Article 15 of the Regulation for the Administration of International Reserves in the following terms:
SAYS:
Article 15.- (Interest rate risk)
III. For the Euro and Global Portfolios, the maximum investment term is 2 years.
SHOULD SAY:
"Article 15.- (Interest rate risk)
III. For the Euro Portfolio, the maximum investment term is 2 years. For the Global Portfolio, it is 10 years."
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, March 25, 2014
Read the rest free
Lineage: In force
Timeline
This document amends: Resolution 075/2012 Approving the Regulation for the Administration of International Reserves
Source: Banco Central de Bolivia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from BCB
BCB published 10 documents in the last 30 days. We email you each new one the day it's published.