Board Resolution No. 050/2026 Approving the Foreign Exchange Position Regulation for Financial Intermediation Entities

BOARD OF DIRECTORS BOARD RESOLUTION NO. 50/2026 SUBJECT: ECONOMIC POLICY ADVISORY - FINANCIAL ENTITIES MANAGEMENT - APPROVAL OF THE FOREIGN EXCHANGE POSITION REGULATION FOR FINANCIAL INTERMEDIATION ENTITIES.

VIEWED: The Political Constitution of the State of February 7, 2009. Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB) and its modifications. Board Resolution No. 108/2016 of June 14, 2016, which approves the Foreign Exchange Position Regulation for Financial Intermediation Entities and its modifications. Board Resolution No. 95/2022 of October 6, 2022, which approves the Statute of the BCB. The report BCB-APEC-SADBC-INF-2026-18 of April 27, 2026, issued by the Economic Policy Advisory (APEC) and the Financial Entities Management (GEF). The report BCB-GAL-SANO-DLBCI-INF-2026-102 of April 27, 2026, issued by the Legal Affairs Management (GAL).

CONSIDERING: That the Political Constitution of the State in its article 327 determines that the BCB has the function of maintaining the stability of the internal purchasing power of the currency to contribute to economic and social development. In its article 328 it states that the BCB, in coordination with the economic policy determined by the Executive Branch, in addition to those indicated by Law, has among its attributions to determine and execute monetary policy, execute exchange policy, regulate the payment system, authorize the issuance of currency and manage the International Reserves.

That Law No. 1670 in its article 1 determines that the BCB is a State institution, of public law, of an autarkic nature, of indefinite duration, with legal personality and own assets and with legal domicile in the city of La Paz. It is the sole monetary and exchange authority of the country, with administrative, technical and financial competence and specialized normative powers of general application.

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In its article 3 it establishes that the BCB will formulate policies of general application in monetary, exchange and payment system matters for the fulfillment of its object.

That article 30 of Law No. 1670 states that all entities of the financial intermediation system and financial services, whose operation is authorized by the Superintendence of Banks and Financial Entities, now the Financial System Supervision Authority (ASFI), are subject to the normative competence of the BCB.

That articles 44 and 54 subsections a) and o) of Law No. 1670 provide that the highest authority of the BCB is its Board of Directors, responsible for defining its policies, specialized norms of general application and internal norms; as well as establishing administrative, operational and financial strategies of the Issuer Entity, approving their respective short and medium-term programs, which has the attributions to issue the norms and adopt the general decisions necessary for the Issuer Entity to fulfill the functions, competencies and powers assigned by Law; as well as 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 the Statute of the BCB in numerals 1), 12) and 30) of its article 10 determines that the Board of Directors has the attributions to approve general decisions and issue the necessary norms for the BCB to fulfill the functions, competencies and powers assigned to it by Law; determine the exchange regime and exchange policy; and approve, modify and interpret the Regulations of the BCB.

That the Foreign Exchange Position Regulation for Financial Intermediation Entities, in its article 1, establishes that its object is to regulate the exchange position of Financial Intermediation Entities in denominations other than national currency, in order to preserve the stability of the financial system and maintain the necessary control over the aggregated active and passive positions of Financial Intermediation Entities.

CONSIDERING: That through the report BCB-APEC-SADBC-INF-2026-18, APEC and GEF conclude and recommend to the Board of Directors of the BCB to approve the Foreign Exchange Position Regulation for Financial Intermediation Entities, incorporating the proposed modifications, with the objective of strengthening the conduct of exchange policy.

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That through the report BCB-GAL-SANO-DLBCI-INF-2026-102, GAL concludes that the approval of the new "Foreign Exchange Position Regulation for Financial Intermediation Entities" is legally viable as it does not violate the current legal framework, so it corresponds to the Board of Directors of the BCB its approval in accordance with what is established in article 54 subsections a) and o) of Law No. 1670 and article 10 numerals 1), 12) and 30) of the Statute of the BCB.

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

Article 1.- Approve the Foreign Exchange Position Regulation for Financial Intermediation Entities, which as an annex forms part of this Resolution.

Article 2.- This Board Resolution will enter into force from May 5, 2026.

Article 3.- From the entry into force of this Resolution, the Foreign Exchange Position Regulation for Financial Intermediation Entities, approved by Board Resolution No. 108/2016 of June 14, 2016 and its modifications, is hereby repealed.

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

La Paz, April 28, 2026

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David Iván Espinoza Torrico PRESIDENT a.i. Claudia Haydee Pacheco Ayala DIRECTOR a.i. Dennise Sussan Martin Alarcón DIRECTOR a.i. Walter Fernando Orellana Rocha DIRECTOR a.i. Alvaro Alfonso Romero Villavicencio DIRECTOR a.i.

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ANNEX FOREIGN EXCHANGE POSITION REGULATION FOR FINANCIAL INTERMEDIATION ENTITIES

Article 1. (Object) The present Regulation has as its object to regulate the exchange position of Financial Intermediation Entities in denominations other than the national currency, in order to preserve the stability of the financial system, assist in the execution of exchange policy and maintain the necessary control over the aggregated active and passive positions of Financial Intermediation Entities.

Article 2. (Terms and Abbreviations) For the purposes of this Regulation, the following terms and abbreviations are used:

Business Day: From Monday to Friday, does not include Saturdays, Sundays or holidays. National Currency (NC): Currency that refers exclusively to the Boliviano. Foreign Currency (FC): Monetary unit of the United States of America called the United States dollar. Other Foreign Currencies (OFC): All other currencies indicated in the BCB quotation table except the United States dollar. Includes virtual assets. UFV: Housing Development Unit. National Currency with Value Maintenance (MVDOL): Accounting unit that allows the maintenance of the value of the Boliviano with respect to the United States dollar. National Currency with Value Maintenance in relation to the Housing Development Unit (MNUFV): Denomination that allows the maintenance of the value of the Boliviano in relation to the Housing Development Unit. Accounting Equity: The equity that arises from the consolidated Statement of Financial Position of a Financial Intermediation Entity.

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Long Position: It is the excess of assets over liabilities in a certain denomination. Short Position: It is the excess of liabilities over assets in a certain denomination. Balanced Position: It is the equality or balance between liabilities and assets in a certain denomination. Exchange Position: Long, short or balanced position. Investment in Fixed Assets: These are tangible goods that are used in the entity's activity and are not intended for sale; likewise, they include rented goods and goods for the use of personnel that are not affected to the use of the entity. Net Equity: Accounting equity minus investment in fixed assets. Compensatory Reserves: It is the sanction for non-compliance with the exchange position limit.

Article 3 (Calculation of the Position). The calculation of the exchange position will be carried out daily, based on the balances at the close of each business day. The calculations of the exchange positions for each denomination defined in article 2 will be carried out in national currency and independently for MNUFV and for the sum of FC, MVDOL and OFC.

Article 4 (Exchange Position Limits). Financial Intermediation Entities may maintain an exchange position in accordance with the following rules: a) For the sum of FC, MVDOL and OFC, the limits are as follows: • A long position up to the equivalent of 20% (TWENTY PERCENT) of the value of net equity. Financial Intermediation Entities (FIE) whose net equity value registers a negative value will automatically be in breach of the Regulation.

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• A short position up to the equivalent of 50% (FIFTY PERCENT) of the value of accounting equity. b) A long position in MNUFV up to the equivalent of 20% (TWENTY PERCENT) of the value of accounting equity.

Article 5 (Follow-up of the Exchange Position). The Financial Entities Management of the BCB will carry out the follow-up of the exchange position of Financial Intermediation Entities, based on the daily information sent by these entities to the Financial System Supervision Authority (ASFI).

Article 6 (Sanctions). Non-compliance with the exchange position limits is considered when the financial intermediation entity exceeds the maximum limits established in long position for more than three (3) consecutive business days within the same reserve requirement constitution period, in which case: i. Once non-compliance is verified in an initial reserve requirement constitution period (period 0), the entity must constitute a Compensatory Reserve (REC) equivalent to one (1%) percent of its obligations subject to reserve in NC, which will be applied during the immediately subsequent reserve requirement constitution period (period 1), during which the corresponding resources will remain immobilized without remuneration. ii. Once the entity complies with the established long position limits, the release of the resources corresponding to the REC will take effect from the reserve requirement constitution period immediately following that in which such compliance is verified. iii. The verification of compliance with the exchange position limits, as well as the determination and application of the REC, will be carried out in each reserve requirement constitution period by the Financial Entities Management of the BCB. iv. The RECs will be constituted with resources from the current and reserve account in NC in a specific account administered by the BCB.

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Article 7 (Regulatory Entity). The ASFI, in the use of the powers conferred by Law No. 393, will establish control norms for the compliance with this Regulation.

Article 8 (Exception). The Productive Development Bank (BDP) is exempt from the application of this regulation. Development Financial Institutions (DFI) are exempt from the application of this regulation.

Article 9 (Position Liquidation). Within the framework of this Regulation, Financial Intermediation Entities may liquidate their positions in the current and reserve account in foreign currency and/or reduce in advance their positions in the funds: Fund for Credits destined to the Productive Sector and Social Interest Housing II (CPVIS II), Fund for Credits destined to the Productive Sector and Social Interest Housing III (CPVIS III) and Fund for Credits destined to the Productive Sector (CPRO), at the official selling exchange rate. -0--