Board Resolution No. 051/2020: Approval of Modifications to the Payment Services, Electronic Payment Instruments, Compensation and Settlement Regulation

The Central Bank of Bolivia amends Article 3 of the Payment Services, Electronic Payment Instruments, Compensation and Settlement Regulation to expand the scope of electronic payment operations for Open Investment Fund Management Companies. The resolution updates definitions for ATMs, payment orders, and fund share redemptions to explicitly include the purchase and redemption of open fund shares, and adds new definitions for 'Share Purchase' and 'Participation Account'. These changes enable financial entities to facilitate electronic transactions for buying and selling investment fund quotas, thereby modernizing the regulatory framework for these specific financial services.

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BOARD RESOLUTION NO. 051/2020
SUBJECT: FINANCIAL ENTITIES MANAGEMENT – APPROVES MODIFICATION OF THE PAYMENT SERVICES, ELECTRONIC PAYMENT INSTRUMENTS, COMPENSATION AND SETTLEMENT REGULATION

SEEN:
The Political Constitution of the State of February 7, 2009.
Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB).
Law No. 393 of August 5, 2013, on Financial Services.
The BCB Statute, approved by Board Resolution No. 128/2005 of October 21, 2005, and its modifications.
The Payment Services, Electronic Payment Instruments, Compensation and Settlement Regulation approved by Board Resolution No. 137/2019 of October 8, 2019.
The Report from the Financial Entities Management BCB-GEF-SSPSF-DVSP-INF-2020-17 of April 14, 2020.
The Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2020-36 of April 24, 2020.

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This document amends: Board Resolution No. 137/2019 Approving the New Regulation on Payment Services, Electronic Payment Instruments, Clearing and Settlement

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