Regulatory Alerts2014-08-15 | RESOLUCION DE DIRECTORIO Nº 092/2014Added · Updated
Board Resolution No. 092/2014
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 12,000,000 banknotes of the Bs200 denomination, totaling Bs2,400,000,000. Director Reynaldo Yujra is designated to represent the Board at the monetization ceremony. The Presidency and General Management are charged with executing and ensuring compliance with this resolution.
P75;1,1/4(-{1- - C&e1///-Cd (202 e(/o xio BOARD RESOLUTION NO. 092/2014 SUBJECT: MONETARY OPERATIONS MANAGEMENT — AUTHORIZES MONETIZATION OF Bs200.- BANKNOTES
HAVING VIEWED: Law No. 901 of November 28, 1986, which creates the "Boliviano" as the legal and mandatory unit of currency. Law No. 1670 of October 31, 1995. The Statute of the Central Bank of Bolivia of October 21, 2005. The Regulation on Monetization, Distribution, and Destruction of Monetary Material, approved by Board Resolution No. 117/2009 of October 6, 2009, and its subsequent modifications. The Bank Provision Contract SANO No. 257/2011 of July 27, 2011, signed with the company Oberthur Technologies. The Report from the Monetary Operations Management BCB-GOM-STES-INF-2014-62 of August 1, 2014. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2014-320 of August 1, 2014.
CONSIDERING: That Article 1 of Law No. 901 creates the Boliviano as the unit of the State's monetary system, through banknotes and coins that the Central Bank of Bolivia will issue and circulate as legal tender, starting from January 1, 1987. That according to Article 10 of Law No. 1670, the Central Bank of Bolivia exercises exclusively and non-delegably the function of issuing Bolivia's monetary unit, in the form of banknotes and metallic coins. That it is an attribution of the Board of Directors according to Article 54, subsection m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins. That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material, establishes that it is the faculty of the BCB Board of Directors to authorize the monetization of monetary material based on reports from the Monetary Operations Management (GOM) and the Legal Affairs Management, in accordance with the issuance or storage requirements determined by the GOM. That in conformity with the Bank Provision Contract SANO No. 257/2011 of July 27, 2011, signed with the company Oberthur Technologies, the Central Bank of Bolivia received the entirety of the monetary material stipulated in that document, equivalent to twelve million pieces of the Bs200.- banknote cut. That Report BCB-GOM-STES-INF-2014-62 establishes the need to introduce, starting from the month of August of the current management, banknotes of the Bs200.- cut. That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-INF-2014-320, there is no legal impediment for the BCB Board of Directors, in attention to its faculties and competencies, to approve the monetization of banknotes of the Bs200.- cut.
THEREFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:
Article 1.- Authorize the monetization of banknotes of the Bs200.- cut according to the following detail:
CUT | NUMBER OF PIECES | VALUE IN Bs. 200 | 12,000,000 | 2,400,000,000 Total | 12,000,000 | 2,400,000,000
Article 2.- Designate Director Reynaldo Yujra to participate, on behalf of the Board of Directors, in the act of monetization of the cited material.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, August 5, 2014
Reynaldo Yujra Sega
Ronald Mo Rivero /- AbrahaIn Perez Alandia /` / Alv'aco Rodri uez Rojas c&e/elie{i/ Kele f0?xee 5 /o x/o /13. R.D. N° 092/2014 Velarde Vera
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