Regulatory Alerts2026-05-21 | RESOLUCIÓN DE DIRECTORIO N° 064/2026Added · Updated
Board Resolution No. 064/2026
The Board of Directors of the Central Bank of Bolivia postpones the effective date of the modification to Article 16 of the Legal Reserve Regulation for Financial Intermediation Entities until June 8, 2026. This delay, originally set to take effect in the current reserve requirement period under Resolution No. 62/2026, is implemented to accommodate social conflict that has disrupted normal economic and financial activities. The resolution mandates the Presidency and General Management to execute and ensure compliance with this postponement.
BOARD OF DIRECTORS
BOARD RESOLUTION NO. 64/2026
SUBJECT: ECONOMIC POLICY ADVISORY - FINANCIAL ENTITIES MANAGEMENT - POSTPONE THE EFFECTIVE DATE OF THE MODIFICATION TO ARTICLE 16 OF THE LEGAL RESERVE REGULATION FOR FINANCIAL INTERMEDIATION ENTITIES APPROVED BY BOARD RESOLUTION NO. 62/2026.
SEEING:
Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB) and its modifications.
Board Resolution No. 76/2022 of August 26, 2022, which approves the Legal Reserve Regulation for Financial Intermediation Entities and its modifications.
Board Resolution No. 95/2022 of October 6, 2022, which approves the Statute of the BCB.
Board Resolution No. 62/2026 of May 12, 2026, by which the Legal Reserve Regulation for Financial Intermediation Entities is modified.
Report BCB-APEC-SPMEE-INF-2026-8 of May 20, 2026, from the Economic Policy Advisory (APEC) and the Financial Entities Management (GEF).
Report BCB-GAL-SANO-DLBCI-INF-2026-124 of May 20, 2026, from the Legal Affairs Management (GAL).
CONSIDERING:
That Law No. 1670 in its Article 1 provides that the BCB is the sole monetary and exchange authority of the country, with administrative, technical, and financial competence and specialized normative powers of general application. In its Article 3, it determines that the BCB will formulate general application policies in monetary, exchange, and payment system matters to fulfill its object.
That the aforementioned Law, in its Article 7, establishes that the BCB may establish legal reserves of mandatory compliance by Banks and financial intermediation entities. Their composition, amount, method of calculation, characteristics, and remuneration shall be established
BOARD OF DIRECTORS
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by the Board of Directors of the Bank, by an absolute majority of votes. The control and supervision of the legal reserve shall correspond to the current Authority for the Supervision of the Financial System (ASFI). In its Article 37, it determines that the BCB will be the depositary of the liquid reserves intended to cover the legal reserve and attend to the payment system and other operations with the BCB of the financial intermediation entities subject to the authorization and control of the ASFI.
That Law No. 1670, in its Article 44, provides that the highest authority of the BCB is its Board of Directors, which is responsible for defining its policies, specialized norms of general application, and internal rules; as well as establishing administrative, operational, and financial strategies of the Issuing Entity, approving their respective short and medium-term programs. In subsections a), i), and o) of its Article 54, it establishes that the Board has the authority to issue norms and adopt general decisions necessary for the BCB to fulfill the functions, competencies, and powers assigned to it by the Law; to fix and regulate the administration of the legal reserve to which banks and other financial entities must be subject, disposing of measures for its compliance; 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 the Statute of the BCB, in its Articles 5 and 6, establishes that the BCB has normative competence and that the norms it issues shall be approved by Resolution of its Board of Directors. In subsections 1), 7), and 30) of its Article 10, it determines that the Board has the authority to approve general decisions and issue norms necessary for the BCB to fulfill the functions, competencies, and powers assigned to it by the Law; to establish by absolute majority of votes, legal reserves of mandatory compliance by financial intermediation entities and approve their composition, amount, calculation, characteristics, forms of administration, custody, and remuneration, in accordance with the Regulation. Likewise, to approve, modify, and interpret the Regulations of the BCB by two-thirds of the votes of all its members.
That the Legal Reserve Regulation for Financial Intermediation Entities in its Article 1, establishes that its object is to fix and regulate the administration of the legal reserve and the resources resulting from its modification, in order to have instruments of monetary regulation and preservation of the stability of the financial system. In its Article 2, it provides that all financial intermediation entities, authorized for their operation by the ASFI, are subject to the provisions of this Regulation.
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That through Articles 2 and 3 of Board Resolution No. 62/2026, Article 16 of the Legal Reserve Regulation for Financial Intermediation Entities is modified, providing that its effective date shall be in the current period of legal reserve requirement.
CONSIDERING:
That through report BCB-APEC-SPMEE-INF-2026-8, the APEC and GEF recommend postponing the deadline established for compliance with the new limits on funds in custody, due to the situation of social conflict the country is going through, which has interrupted the normal development of economic and financial activities.
That through report BCB-GAL-SANO-DLBCI-INF-2026-124, the GAL concludes that it is legally viable to postpone the effective date of Article 16 of the Legal Reserve Regulation for Financial Intermediation Entities modified by Board Resolution No. 62/2026, as it does not violate the current legal framework, therefore, it corresponds to the Board of Directors of the BCB to approve it in accordance with what is established in Article 54 subsections a), i), and o) of Law No. 1670 and Article 10 subsections 1), 7), and 30) of the Statute of the BCB.
THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA, RESOLVES:
Article 1.- Postpone until June 8, 2026, the effective date of the modification of Article 16 of the Legal Reserve Regulation for Financial Intermediation Entities, approved in Article 2 of Board Resolution No. 62/2026 of May 12, 2026.
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, May 20, 2026
David Iván Espinoza Torrico PRESIDENT a.i.
BOARD OF DIRECTORS
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Dennise Sussan Martin Alarcón DIRECTOR a.i.
Walter Fernando Orellana Rocha DIRECTOR a.i.
Álvaro Alfonso Romero Villavicencio DIRECTOR a.i.
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