Regulatory Alerts2020-09-08 | RESOLUCIONES DE DIRECTORIO Nº 081/2020Added · Updated
Board Resolution No. 081/2020 - Modification of the Legal Reserve Regulation for Financial Intermediation Entities
This resolution modifies Articles 30 and 32 of the Legal Reserve Regulation for Financial Intermediation Entities, establishing the constitution of the Fund for Credits destined to the Productive Sector and Social Interest Housing III (Fondo CPVIS III) based on resources held by each entity on the approval date. It authorizes banks to request 0% interest liquidity loans in national currency until January 29, 2021, to increase credit portfolios for the productive sector, social interest housing, Savings and Credit Cooperatives (CAC), and Development Financial Institutions (IFD). Entities must submit monthly sworn declarations by the 5th business day of the following month to verify credit increments against base dates of December 31, 2018, and August 31, 2020, with any shortfall subject to the report rate interest upon loan maturity on February 1, 2021.
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