CIEX No. 14/2023: Regulation of Financial Operations with Foreign Entities for Central Level State-Owned Enterprises and Majority State-Owned Companies

EXTERNAL CIRCULAR
La Paz, March 8, 2023
CIEX No. 14/2023
FROM: GENERAL MANAGEMENT
INTERNATIONAL OPERATIONS MANAGEMENT
TO: CENTRAL LEVEL STATE ENTERPRISES;
ENTERPRISES IN WHICH THE STATE HOLDS A MAJORITY SHAREHOLDING, THEIR SUBSIDIARIES AND AFFILIATES; MINISTRIES RESPONSIBLE FOR SECTOR POLICY AND THE SUPERVISORY AUTHORITY OF THE FINANCIAL SYSTEM SUBJECT: REGULATION OF FINANCIAL OPERATIONS WITH FOREIGN ENTITIES FOR CENTRAL LEVEL STATE ENTERPRISES AND ENTERPRISES IN WHICH THE STATE HOLDS A MAJORITY SHAREHOLDING

Gentlemen:

With regard to the "Regulation of Financial Operations with Foreign Entities for Central Level State Enterprises and Enterprises in which the State holds a Majority Shareholding," approved by Board Resolution No. 006/2023 of January 4, 2023, the Central Bank of Bolivia (BCB) communicates the following:

1. Transfer from Abroad
   Settlements of transfers from abroad must be communicated via a note addressed to the International Operations Management of the BCB, containing at minimum the account and/or passbook of ownership of the state enterprise at the BCB, TGN, Public Bank, or another account in the National Financial System, as applicable.

Likewise, entities at the central level of the State may send a note by orderer (only once), which will be considered valid by the BCB until a new communication.

2. Sworn Declaration Form
   Enterprises in which the State holds a majority shareholding, their subsidiaries, and their affiliates must submit to the BCB by the 15th day of the month following each quarter, Annex 1 "Sworn Declaration Form of Balances in Accounts Abroad and Transfers through the National Financial System," attaching the daily evolution of balances in accounts held abroad; both documents must be sent in physical format duly signed by the competent instances and in digital format (Excel) to the email address formulariodj@bcb.gob.bo.

The aforementioned form is available on the BCB institutional website https://www.bcb.gob.bo under the option SURVEYS AND FORMS.

3. Monitoring, Suspensions, and Sanctions
   The BCB through the International Operations Management (GOI) will issue the list of enterprises in which the State holds a majority shareholding, their subsidiaries, and their affiliates that failed to comply with the regulations by the third business day after the 15th of the month following each quarter, to the Financial Entities Management (GEF).

In turn, the GEF will forward the list to the Financial System Supervisory Authority (ASFI). The suspension takes effect from the moment the ASFI issues the communication and/or resolution directed to the Financial Intermediation Entities.

4. Operational Aspects
   For specific operational aspects, the operating procedures of the Issuing Entity must be followed. Likewise, inquiries and clarifications should be made to the phones 2661766 – 2661763 – 2661768.

External Circulars CIEX No. 22/2022 of May 18, 2022, and CIEX No. 32/2022 of July 12, 2022, are hereby repealed.

Sincerely.

DIGITALLY SIGNED DOCUMENT
Adriana Dennise Valle Rojas
MANAGER OF INTERNATIONAL OPERATIONS
Rubén Gonzalo Ticona Chique
GENERAL MANAGER
Validate digital signatures at: validar.firmadigital.bo RGTCH/ADVR/ssim/arem