Regulatory Alerts2014-05-06 | RESOLUCION DE DIRECTORIO Nº 042/2014Added · Updated
Board Resolution No. 042/2014
The Board of Directors of the Central Bank of Bolivia amends Article 6 of the Legal Reserve Regulation to replace fixed deduction percentages with a phased reduction schedule for banks, private financial funds, mutuals, and cooperatives. The modification establishes specific effective dates and corresponding compensation percentages for cash and securities reserves, starting with a full deduction on May 12, 2014, and gradually decreasing to zero by November 2015. This change applies to legal reserves calculated in national currency and UFV, affecting financial entities authorized by the ASFI.
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