Regulatory Alerts2024-05-14 | CIEX N° 12/2024Added · Updated
CIEX No. 12/2024: Procedures for Depositing US Dollar Cash at the Central Bank of Bolivia
Financial Intermediation Entities (FIEs) must deposit US dollar banknotes at the Central Bank of Bolivia (BCB) in accordance with the Federal Reserve Bank's Cash Services Procedures Manual, strictly separating notes into "contaminated" and "non-contaminated" categories based on specific hygiene criteria. The regulation mandates precise packaging standards, including 100-note bands with denomination-specific colors, 1,000-note packages sealed with shrink wrap, and specific elastic band configurations, while holding FIEs liable for any costs arising from rejections or anomalies detected by the Federal Reserve Bank. For import-related legal reserve deposits, FIEs must submit a sworn declaration and may request foreign transfer only after the Federal Reserve Bank confirms fund availability. Additionally, Public Banking Entities must deposit remaining US dollar cash balances from contracts with the BCB via the BCB's secure fractional cash site, and Circular Externa CIEX No. 7/2024 is hereby repealed.