Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 156/2016

SUBJECT: FINANCIAL ENTITIES MANAGEMENT – MODIFIES THE REGULATION ON INCENTIVES FOR THE COLLECTION OF PROPERTY CREDIT PORTFOLIOS OF THE CENTRAL BANK OF BOLIVIA AND THOSE RECEIVED IN ADMINISTRATION FROM THE FORMER NATIONAL INSTITUTE OF PRE-INVESTMENT (EX INALPRE).

VIEWED:

Law No. 1670 of October 31, 1995.
The Civil Procedure Code, approved by Decree-Law No. 12760 of August 6, 1975, and elevated to the rank of law by Law 1760 of February 28, 1997, on the Abbreviation of Civil Procedure and Family Assistance.
Law No. 439 of November 19, 2013, which approves the new Civil Procedure Code, with full effect from February 6, 2016.
The Statute of the Central Bank of Bolivia of October 21, 2005.
Board Resolution No. 065/2015 of April 28, 2015.
Board Resolution No. 109/2016 of June 14, 2016.
Board Resolution No. 046/2016 of March 15, 2016.
The Legal Report from the Legal Affairs Management BCB-GAL-SAJU-DLCC1-INF-2016-126 of August 16, 2016.

CONSIDERING:

That Article 54 subsection o) of Law No. 1670, and Article 11 numeral 29) of the BCB Statute, provide that the Board of Directors has the authority to approve, modify, and interpret the Statute and its Regulations, by two-thirds of its total members, without the need for any additional administrative act.
That Board Resolution No. 065/2015 approved the Regulation on Incentives for the Collection of Property Credit Portfolios of the Central Bank of Bolivia and the portfolio in administration of the former National Institute of Pre-investment (Ex INALPRE).
That Board Resolution No. 109/2016 of June 14, 2016, modified the Annex of Board Resolution No. 065/2015 of April 28, 2015.

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That through Act No. 13/2016 of August 15, 2016, the Recovery and Asset Realization Committee approved the Draft Modification to the Regulation on Incentives for the Collection of Property Credit Portfolios of the Central Bank of Bolivia and those Received in Administration from the former National Institute of Pre-investment (EX INALPRE) approved with B.R. No. 065/2015 and modified with B.R. No. 109/2016, instructing that it be forwarded for its consideration and subsequent treatment by the Board of Directors.

That the Legal Affairs Management, through Legal Report BCB-GAL-SAJU-DLCC1-INF-2016-126, establishes that it is pertinent to modify the first paragraph of Article 1 Bis, incorporated by Article 2 of Board Resolution No. 109/2016 of June 14, 2016, substituting the phrase stating “until before the issuance of the award deed”, with “until before the approval of the auction”, in order to achieve concordance with the current civil procedural regulations.

That the Legal Affairs Management concludes, in the aforementioned report, that its proposal does not contravene any legal norm and has been approved by the Recovery and Asset Realization Committee, therefore there is no legal impediment for its consideration and approval by the Board of Directors of the institution, in exercise of its powers conferred by Article 54 subsections a) and o) of Law 1670 of October 31, 1995, and to approve the proposal to modify Article 2 of Board Resolution No. 109/2016 of June 14, 2016, in the first paragraph of its Article 1 bis.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Modify Article 1 bis. (Scope of Application) of Article 2 of Board Resolution No. 109/2016 of June 14, 2016, as follows:

IT SAYS:

Article 1 bis.- Scope of Application This Regulation applies to the entire portfolio of property credits owned by the BCB and to the portfolio received in administration in the state in which it is found: current, overdue, execution, and written-off. The portfolio in judicial execution, until before the issuance of the award deed.”

IT MUST SAY:

“Article 1 bis.- Scope of Application This Regulation applies to the entire portfolio of property credits owned by the BCB and to the portfolio received in administration in the state in which it is found: current, overdue, execution, and written-off, the portfolio in judicial execution, until before the approval of the auction.”

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Article 2.- This Board Resolution shall enter into force on the day of its approval.

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

La Paz, August 16, 2016

Signatures:

Marcelo Zabalaga Estrada
Sergio Velarde Vera
Ronald Polo Rivero
Abraham Pérez Alandia
Luis Baudoin Olea

Board Resolution No. 156/2016