BOARD OF DIRECTORS

BOARD RESOLUTION NO. 059/2024

SUBJECT: GENERAL MANAGEMENT – MODIFY THE TABLE OF COMMISSIONS FOR SERVICES AND THE TABLE OF FINES OF THE CENTRAL BANK OF BOLIVIA.

VIEWED:

• 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.
• Supreme Decree No. 29681 of August 20, 2008, and its modification.
• The BCB Statute approved by Board Resolution No. 095/2022 of October 6, 2022.
• Board Resolution No. 123/2022 of December 27, 2022, and its modification.
• Report BCB-GOI-SRES-DOI-INF-2024-73 of May 3, 2024, issued by the International Operations Management (GOI) and the Treasury Management (GTES).
• Report BCB-GAL-SANO-DLBCI-INF-2024-160 of May 3, 2024, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That Article 327 of the CPE determines that the BCB 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.

That Articles 1 and 3 of Law No. 1670, modified by Article 64, section A3, numeral 1) of Law No. 1864 of June 15, 1998, on Popular Property and Credit, establish that the BCB is a State institution, of public law, of an autonomous nature, of indefinite duration, with its own legal personality and 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 regulatory powers of general application, and it will formulate general application policies in monetary, exchange, and payments system matters for the fulfillment of its object.

That Article 20 of Law No. 1670 establishes that the BCB is authorized to regulate financial operations with foreign entities, carried out by public and private persons or entities.

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.

That subsections a) and q) of Article 54 of Law No. 1670 indicate as attributions of the Board of Directors 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, those other ones indicated by the cited Law, and those that are necessary for the fulfillment of its functions.

That Article 4 of Supreme Decree No. 29681 provides that financial intermediation entities regulated by the current Authority for the Supervision of the Financial System, as well as financial entities not regulated by said entity, must carry out operations for the physical entry and exit of foreign currency from the national territory exclusively through the BCB, following the procedures and conditions established by that entity.

That numerales 1) and 3) of Article 5 of the BCB Statute provide that its Board of Directors 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 numerales 1) and 44) of Article 10 of the BCB Statute provide that the Board of Directors 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, and to set the table of commissions that the BCB must charge for the services it provides.

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

That paragraphs I and II of Article 26 of the BCB Statute stipulate that the Board of Directors 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, every draft Board Resolution must be motivated and justified by a technical report from the Management or Managements to whom the subject matter of the Resolution corresponds, and by a report from the GAL. These reports must be sent to the Board of Directors by the General Management with its recommendation.

That Report BCB-GOI-SRES-DOI-INF-2024-73 concludes that, considering that the importation of USD implies administrative, logistical, and operational costs for the BCB, it is necessary to include a new commission in the BCB's Table of Commissions for Services, which is technically viable; therefore, it recommends submitting to the consideration of the BCB Board of Directors the inclusion of the modification to section 2. Commissions to the Financial System of the Table of Commissions for Services and Fines of the BCB, approved by R.D. No. 123/2022 dated December 27, 2022, and its modification by R.D. No. 012/2024 of January 18, 2024.

That Legal Report BCB-GAL-SANO-DLBCI-INF-2024-160 concludes that, in accordance with the technical opinion set forth in the Report of the GOI and GTES, the proposal to modify the Table of Commissions for Services and the Table of Fines of the BCB approved by Board Resolution No. 123/2022 of December 27, 2022, and its modification, including a numeral in section 2. (Commissions to the Financial System), has the object of including a new commission for the importation of USD on behalf of Financial Intermediation Entities (EIFs), being viable for approval as it does not contravene any legal provision and falls within the attributions of the BCB; recommending to the BCB Board of Directors to approve the modification of Board Resolution No. 123/2022.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Incorporate numeral 23 in section 2. (Commissions to the Financial System) of the Table of Commissions for Services of the Central Bank of Bolivia, approved by Board Resolution No. 123/2022 of December 27, 2022, and its modification, with the following text:

| 23 | Importation of USD on behalf of EIFs | 278,400 | 0.20 | International Operations / Treasury |

Article 2.- This Resolution shall enter into force from its publication.

Article 3.- The Presidency and the General Management are charged with the compliance of this Resolution.

La Paz, May 7, 2024

SIGNED. ROGER EDWIN ROJAS ULO, Gabriel Herbas Camacho, Gumercindo Héctor Pino Guzmán, Diego Alejandro Pérez Cueto Eulert.