RegAlert2018-10-02 | Resolucion de Directorio N° 142/2018Added · Updated
Board Resolution No. 142/2018
The Board of Directors of the Central Bank of Bolivia authorizes the monetization of 13 million banknotes of the Bs50 denomination from the First Family of Banknotes, representing a total value of Bs650,000,000. The resolution designates Director Ronald Polo Rivero to represent the Board during the monetization ceremony and charges the Presidency and General Management with executing and complying with the resolution.
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Central Bank of Bolivia
Board of Directors
BOARD RESOLUTION NO. 142/2018
SUBJECT: TREASURY MANAGEMENT – AUTHORIZES MONETIZATION OF Bs50 DENOMINATION BANKNOTES FROM THE FIRST FAMILY OF BANKNOTES OF THE PLURINATIONAL STATE OF BOLIVIA
VISTOS:
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 and Destruction of Counterfeit Material, approved by Board Resolution No. 094/2018 of July 24, 2018.
The Contract for the printing of the New Family of Boliviano Banknotes/First Family of Boliviano Banknotes of the Plurinational State of Bolivia SANO-DLABS No. 457/2016 of December 8, 2016, and the Amending Contract SANO DLABS No. 103/2017 of April 6, 2017.
The Report from the Treasury Management BCB-GTES-SAMM-DAMM-INF-2018-117 of September 27, 2018.
The Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2018-336 of September 28, 2018.
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, paragraph m) of Law No. 1670 and numeral 11 of Article 11 of the Statute, to authorize and supervise the issuance of banknotes and coins.
//2. B.R. No. 142/2018
That Article 3 of the Regulation on Monetization, Distribution, and Destruction of Monetary Material and Destruction of Counterfeit Material, establishes that it is the faculty of the Board of Directors of the BCB to authorize the monetization of monetary material based on reports from the Treasury Management (GTES) and the Legal Affairs Management, in accordance with the issuance or storage requirements determined by the GTES.
That in accordance with Contract SANO-DLABS No. 457/2016 and Amending Contract SANO DLABS No. 103/2017 signed with the company Oberthur Fiduciaire S.A.S., the Central Bank of Bolivia received the third shipment of banknotes from the First Family of Banknotes of the Plurinational State of Bolivia, which included the delivery of 13 million pieces of the Bs50 denomination.
That Report BCB-GTES-SAMM-DAMM-INF-2018-117 establishes the need to monetize 13 million pieces of banknotes of the Bs50 denomination from the First Family of Banknotes of the Plurinational State of Bolivia.
That in the opinion of the Legal Affairs Management according to Report BCB-GAL-SANO-DLBCI-INF-2018-336, the request for monetization of Bs50 denomination banknotes made by the GTES is legally appropriate as it does not contravene the current legal framework, being the competence of the Board of Directors of the Issuing Entity to authorize it by simple majority vote of the members present at the respective meeting, in accordance with what is established in Article 24 of the BCB Statute and by virtue of the provisions contained in Law No. 1670.
THEREFORE
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Authorize the monetization of banknotes of the Bs50 denomination from the First Family of Banknotes of the Plurinational State of Bolivia, according to the following detail:
| DENOMINATION | NO. OF PIECES | VALUE IN Bs. |
|---|---|---|
| 50 | 13,000,000 | 650,000,000.- |
| TOTAL | 13,000,000 | 650,000,000.- |
Article 2.- Designate Director Ronald Polo Rivero to represent the Board of Directors in the act of monetization of the aforementioned material.
//3. B.R. No. 142/2018
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, October 2, 2018
Pablo Ramos Sánchez
Abraham Pérez Alandia
Gabriel Herbas Camacho
Luis Baudoin Olea
Ronald Polo Rivero
Sergio Velarde Vera
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Lineage: In force
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
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