BOARD

BOARD RESOLUTION NO. 045/2025

SUBJECT: TREASURY MANAGEMENT – AMEND THE REGULATIONS ON SECURITIES IN CUSTODY.

VIEWING:

• The Political Constitution of the State of February 7, 2009 (CPE).
• Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB) and its modifications.
• The Penal Code elevated to the rank of Law by Law No. 1768 of March 10, 1997 and its modifications.
• Supreme Decree No. 5345 of March 5, 2025.
• The BCB Statute approved by Board Resolution No. 095/2022 of October 6, 2022.
• The Regulations on Securities in Custody approved by Board Resolution No. 129/2024 of October 8, 2024.
• Report BCB-GTES-SOMM-DOMM-INF-2025-114 of March 27, 2025, issued by the Treasury Management (GTES).
• Report BCB-GAL-SANO-DLBCI-INF-2025-102 of March 31, 2025, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That Articles 327 and 328 of the Political Constitution of the State determine that the Central Bank of Bolivia is a public law institution, with legal personality and its own assets, which within the framework of the State's economic policy, has the function of maintaining the stability of the internal purchasing power of the currency, to contribute to economic and social development, being its attribution, in coordination with the economic policy determined by the Executive Branch, to determine and execute monetary policy, execute exchange rate policy, regulate the payment system, authorize the issuance of currency and administer the International Reserves.

That Article 1 of Law No. 1670, modified by Article 64, section A3, numeral 1) of Law No. 1864 of June 15, 1998 on Property and Popular Credit, establishes that the BCB is a State institution, of public law, of an autarkic nature, of indefinite duration, with legal personality and its own assets and with legal domicile in the city of La Paz. It is the sole monetary and exchange rate authority of the country, with administrative, technical and financial competence and specialized regulatory powers of general application.

That subsection c) of Article 29 of Law No. 1670 provides that the BCB will exercise functions as Financial Agent of the Government and may receive securities in custody from the State, in the cases and under the conditions established by the BCB, being able to delegate this function to other banks and entities of the financial system.

That Article 44 of Law No. 1670 establishes that the highest authority of the BCB is its Board of Directors, which is responsible for defining its policies, specialized regulations of general application and internal rules; as well as establishing administrative, operational and financial strategies of the BCB, approving their respective short and medium-term programs. For the monitoring and oversight of their execution, it will have independent information, analysis and audit services.

That subsections a) and o) of Article 54 of Law No. 1670 indicate as attributions of the Board to issue regulations and adopt general decisions that are necessary for the BCB to fulfill the functions, competencies and powers assigned to it by the Law and to approve, modify and interpret the Statute and Regulations of the BCB, by two-thirds of the votes of all its members, without the need for any additional administrative act.

That Article 185 bis of the Penal Code typifies the crime of laundering illicit gains, establishing its scope and precedent crimes.

That Article 1 of Supreme Decree No. 5345 provides that in order to strengthen the administration of assets by the General Directorate of Registration, Control and Administration of Seized Assets (DIRCABI), it regulates the treatment of assets that are delivered to DIRCABI for their administration, linked to the crime of laundering illicit gains and its precedent crimes established in Article 185 bis of the Penal Code.

That subsection b) of Article 9 of Supreme Decree No. 5345 establishes that the Director or Executive General Director of DIRCABI, based on technical and legal reports through a reasoned Administrative Resolution, will order the temporary custody of jewelry, securities and cash, which require to be physically maintained at the Central Bank of Bolivia or in a Financial Intermediation Entity of the national financial system in the name of DIRCABI and the Second Transitional Provision establishes a period not greater than 30 calendar days, computable from the publication of said Supreme Decree for the BCB to adjust its internal Regulation for the application of the cited Article 9.

That numerals 1) and 3) of Article 5 of the BCB Statute provide that its Board has regulatory competence to issue specialized regulations in the fields assigned by Law and technical competence for the formulation of policies and the application of instruments that allow it to fulfill its object.

That Article 6 and numerals 1) and 30) of Article 10 of the BCB Statute provide that the Board has the attributions to approve general decisions and issue regulations that are necessary for the BCB to fulfill the functions, competencies and powers assigned to it by the Law, as well as to carry out the monitoring of their execution, as well as to approve, modify and interpret the Statute and Regulations of the BCB, by two-thirds of the votes of all its members, without the need for an additional administrative act.

That Paragraph I of Article 24 of the BCB Statute provides that the Resolutions and decisions of the Board are adopted by a simple majority of votes of its members present in a meeting, except in cases where Law No. 1670 or the Statute require qualified majorities.

That Paragraphs I and II of Article 26 of the BCB Statute stipulate that the Board pronounces itself on matters within its competence through Resolutions. It may also do so through decisions that will be expressly recorded in the Minutes. Likewise, any draft Board Resolution must be motivated and justified by a technical report from the Management or Managements to which the subject matter of the Resolution corresponds and by a report from the GAL. These reports must be sent to the Board by the General Management with its recommendation.

That report BCB-GTES-SOMM-DOMM-INF-2025-114 concludes in the need to modify numeral 14 of Paragraph II of Article 3, Articles 6, 8, 10 and 12 and Annex I of the Regulations on Securities in Custody, in compliance with what is established in the Second Transitional Provision of Supreme Decree No. 5345, a proposal that is technically viable; recommending to the Board of the BCB its approval.

That report BCB-GAL-SANO-DLBCI-INF-2025-102 concludes that in accordance with report BCB-GTES-SOMM-DOMM-INF-2025-114 the proposal to modify the Regulations on Securities in Custody is legally viable insofar as it complies with the Second Transitional Provision of Supreme Decree No. 5345 regarding the application of Article 9 of said legal norm; recommending to the Board of the BCB its approval.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Modify numeral 14 of Paragraph II of Article 3 of the Regulations on Securities in Custody, approved by Board Resolution No. 129/2024 of October 8, 2024, with the following text:

“Article 3. (Acronyms and definitions).

(...)

II. The definitions applicable to these Regulations are the following:

(...)

14. Securities originating from seizures. Securities originating from seizures are those that require to be physically maintained at the Central Bank of Bolivia for the purposes of the judicial process, jewelry, securities and cash deposited at the request of a court or at the request of the Director or Executive General Director of DIRCABI through a technically and legally reasoned Administrative Resolution and in the name of DIRCABI, linked to the crimes of illicit trafficking of controlled substances, crimes of laundering illicit gains and precursor crimes.”

Article 2.- Incorporate Paragraphs IV and V into Article 6 of the Regulations on Securities in Custody, approved by Board Resolution No. 129/2024 of October 8, 2024, with the following text:

“Article 6. (Acceptance and rejection of securities deposit).

(...)

IV. The total of securities deposits originating from seizures will be assigned a space in the BCB Central Vault whose maximum permitted volume is 0.5m3 and/or a maximum weight of 100Kg, whichever occurs first, in case of exceeding these parameters the BCB will reject the deposit request, the Applicant must send its securities to a financial intermediation entity of the national financial system, as established by Supreme Decree No. 5345.

V. The BCB, within the framework of its attributions and functions, will prioritize the custody of its securities, being able to reject deposit requests.”

Article 3.- Incorporate Paragraph III into Article 8 of the Regulations on Securities in Custody, approved by Board Resolution No. 129/2024 of October 8, 2024, with the following text:

“Article 8. (Receipt and registration of securities deposit).

(...)

III. The receipt of Securities originating from seizures will be carried out in the presence of a Public Notary, at the expense and responsibility of the Depositor.”

Article 4.- Modify Article 10 of the Regulations on Securities in Custody, approved by Board Resolution No. 129/2024 of October 8, 2024, with the following text:

“Article 10. (Custody conditions).

The BCB will only facilitate spaces in its vault environments for the custody of securities, without this implying functions of administration, preservation, investment or similar with respect to said securities, therefore the custody of securities does not generate any yield.”

Article 5.- Modify Article 12 of the Regulations on Securities in Custody, approved by Board Resolution No. 129/2024 of October 8, 2024, with the following text:

“Article 12. (Custody time).

I. The maximum custody time for Securities to be deposited in the BCB will be established in the deposit minutes.

II. Securities from judicial or administrative processes may be custodied for the duration of the judicial or administrative process and until communication from the Competent Authority regarding their destination.

III. Securities originating from seizures may be custodied at the BCB for a period not greater than 3 months; the period may be extendable at the request of the Depositor for one time only, for the same established time, upon expiration of the period, the Depositor must carry out its withdrawal. In case of no withdrawal request, the BCB will communicate in writing a date for its return, whose delivery will be carried out in the presence of a Public Notary.

IV. While Securities from judicial or administrative processes remain in custody, the Depositor must verify their status at least once a year.

V. Numismatic values of the BCB, commemorative to the public, historical heritage, for International Reserves, originating from Liquidated Financial Entities, will have an indefinite custody time.”

Article 6.- Modify Annex I of the Regulations on Securities in Custody, approved by Board Resolution No. 129/2024 of October 8, 2024, in accordance with the Annex that forms part of this determination.

Article 7.- This Resolution will enter into force from its publication.

Article 8.- The Presidency and the General Management are charged with the compliance of this Resolution.

La Paz, April 1, 2025

SIGNED. ROGER EDWIN ROJAS ULO, Gumercindo Héctor Pino Guzmán, Miguel Angel Marañon Urquidi, Victor Gonzalo Calisaya Gomez.

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ANNEX

SECURITIES IN CUSTODY OPERATIONS REQUEST FORM

TREASURY MANAGEMENT

I. GENERAL DATA

ENTITY / REQUESTING AREA
TYPE OF OPERATION	DEPOSIT ☐ VERIFICATION ☐ WITHDRAWAL ☐

II. AUTHORIZED PERSONNEL DATA

NAMES AND SURNAMES
POSITION
DOCUMENT OF DESIGNATION OF AUTHORIZED PERSONNEL
IDENTITY CARD NO.	EXTENSION

III. OPERATION DATA

JUSTIFICATION OF THE OPERATION (DEPOSIT, VERIFICATION OR WITHDRAWAL)
ADDITIONAL PERSONNEL PARTICIPATING IN THE OPERATION
	1. ID/PASSPORT
	2. ID/PASSPORT
	3. ID/PASSPORT
	4. ID/PASSPORT
	5. ID/PASSPORT

DOCUMENTARY REQUIREMENTS

1. CARRY IDENTITY CARD OF AUTHORIZED PERSONNEL | YES ☐ NO ☐
2. LEGALIZED COPY OF DOCUMENT OF DESIGNATION OF AUTHORIZED PERSONNEL OR POWER OF ATTORNEY | YES ☐ NO ☐
3. COPY OF MINUTES OR DEPOSIT DOCUMENT * (only for verifications and withdrawals) | YES ☐ NO ☐

• In case of having the ITEM No. of the value, the document should not be attached.

IV. DESCRIPTION OF SECURITIES

NO.	ITEM NO. (A)	TYPE OF VALUE (B)	DESCRIPTION OF VALUE (C)	QUANTITY (D)	MATURITY DATE (E)	CUSTODY TIME (F)
1
2
3

(A and B) When the request corresponds to deposits, these fields should not be filled and must be left blank. For verifications and withdrawals, filling is mandatory. (C) The description of the value must be generic and brief, without including weights, measures or specific characteristics, except in the case of deposits of securities originating from seizures, which must contain information on volume and weight for space allocation control (this information will not be included in the value record, it is reference subject to verification during the receipt process). (D) The quantity will be registered as unit (1) per deposited package. (E) Only applies to financial values. (F) According to type of value.

The information declared in this document is reliable, therefore at the foot of the present it is signed as a record of conformity.