Regulatory Alerts2014-11-11 | RESOLUCION DE DIRECTORIO Nº 158/2014Added · Updated
Board Resolution No. 158/2014
The Board of Directors of the Central Bank of Bolivia modifies the 2014 Fee Schedule for Services effective immediately. Specifically, the annual administration fee for the RAL Fund in national currency is increased from 0.3% to 0.65%. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
BOARD RESOLUTION NO. 158/2014 SUBJECT: FINANCIAL ENTITIES MANAGEMENT - MODIFIES THE TABLE OF COMMISSIONS FOR SERVICES OF THE CENTRAL BANK OF BOLIVIA FOR THE 2014 MANAGEMENT PERIOD.
Law 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB). The Statute of the BCB approved by Board Resolution No. 128/2005 of October 21, 2005, and subsequent modifications. Board Resolution No. 175/2013 of December 10, 2013, which approves the Table of Commissions for Services and the Table of Fines of the BCB for the 2014 management period. The Report from the Financial Entities Management BCB-GEF-SSPSF-INF-2014-31 of November 10, 2014. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2014-522 of November 11, 2014.
CONSIDERING:
That according to article 54, subsection n) of Law No. 1670, it is the responsibility of the Board to formulate policies regarding the internal management of the BCB, supervising their execution.
That according to article 11, numeral 45) of the Statute of the BCB, the Board has among its powers the authority to set annually the table of commissions to be charged for the services it provides.
That the Financial Entities Management in Report BCB-GEF-SSPSF-INF-2014-31 indicates that the composition of deposits in the national financial system by currency changed significantly over the last 10 years, that monetary policy rates increased substantially in the current management period, and that the commission for the administration of the RAL Fund in national currency does not correspond to the increase in the Fund, making it necessary to review the administration commission.
That the Legal Affairs Management through report BCB-GAL-SANO-INF-2014-522 indicates that there is no legal impediment for the Board to consider the modification to the Table of Commissions for the 2014 management period.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
[Signatures: Alandia, Ronald Polo, Sergio Velarde Vera, Reynaldo Yujra Segale, Alvaro Rodriguez Kolias]
1,2 1/2. B.R. No. 158/2014
Article 1.- Modify, effective from this date, the Table of Commissions for Services of the Central Bank of Bolivia for the 2014 management period, as follows:
SAYS: 16. Administration of the RAL Fund in National Currency (annual) in percentage 0.3.
SHOULD SAY: 16. Administration of the RAL Fund in National Currency (annual) in percentage 0.65.
Article 2.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, November 11, 2014
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