Board Resolution No. 179/97

BOARD RESOLUTION NO. 179/97
SUBJECT: BOARD - BROAD SCOPE OF ARTICLE 4 OF BOARD RESOLUTION NO. 170/97.

HAVING SEEN:
Law 1670 of October 31, 1995.
Board Resolution No. 170/97 of December 13, 1997.
The Note from the Superintendence of Banks and Financial Entities SB/ISB/Document 56850 of December 19, 1997.
The Presidential Decision of the BCB No. 001/97 of December 19, 1997.

CONSIDERING:
That on Friday, December 19, 1997, the Superintendence of Banks and Financial Entities requested the Presidency of the BCB to facilitate the process of returning deposits from BIDESA in liquidation, given the operational and control difficulties and the problems that arose in Magdalena and other remote regions of the country.

That by Presidential Decision No. 001/97 of December 19 of the current year, the application of the partial subrogation referred to in Article 4 of Board Resolution No. 170/97 was extended to current and savings accounts effectively established in BIDESA up to December 12, 1997.

That the aforementioned Presidential Decision was issued due to the impossibility of convening the Board on Friday, December 19, 1997, in accordance with the authority granted to the President in Article 60 of Law 1670 of October 31, 1995, with the purpose of facilitating the process of returning deposits from BIDESA in liquidation.

//2. B.R. No. 179/97
That the Board has agreed to issue this Resolution, as a sign of conformity with the determination adopted by the President on December 19, 1997.

Therefore,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES:

Article 1.- Expand the scope of the partial subrogation indicated in Article 4 of Board Resolution No. 170/97, to current and savings accounts effectively established in BIDESA up to December 12, 1997.

Article 2.- Reiterate the request made to the Superintendence of Banks and Financial Entities (SBEF), to send to the BCB a detailed monthly report on the return of deposits from BIDESA in liquidation, established after October 31, 1997.
Request, likewise, that in the audit that the SBEF is conducting on BIDESA in liquidation, it investigate the deposits established in said financial entity during the period between October 31 and December 12, 1997.

Article 3.- The Presidency and the General Management are charged with executing this Resolution.

23.XII.97
____________________ Juan Antonio Morales A.

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Armando Pinell S. Jaime Ponce G.

______________________ Juan Pablo Zegarra A.