CIEX No. 2/2022: Constitution of the Fund for Credits Destined to the Productive Sector - CPRO

The Central Bank of Bolivia establishes the Fund for Credits Destined to the Productive Sector (CPRO) using resources released from the reduction of Legal Reserve Rates for national and foreign currency, effective January 10, 2022. Financial Intermediation Entities (EIFs) must contribute to this fund based on their available Legal Reserve Funds, which serve as collateral for loans they may request from the Central Bank starting January 18, 2022. Monthly monitoring of loan portfolio growth begins with declarations due by the fifth business day of February 2022, excluding credits already reported in other specific funds.

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Calle Ayacucho esquina Mercado - Teléfono: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz – Bolivia } CIRCULAR EXTERNA La Paz, January 7, 2022 CIEX No. 2/2022 FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: FINANCIAL INTERMEDIATION ENTITIES SUBJECT: CONSTITUTION OF THE FUND FOR CREDITS DESTINED TO THE PRODUCTIVE SECTOR - CPRO

Gentlemen:
The Central Bank of Bolivia (BCB) informs Financial Intermediation Entities (EIFs) that on December 28, 2021, through Board Resolution No. 147/2021, the BCB approved the reduction of Legal Reserve Rates for Titles for national and foreign currency. This modification in the structure of legal reserve rates will be in effect starting January 10, 2022, releasing resources with which the “Fund for credits destined to the productive sector (CPRO)” is constituted. The participation of each EIF in the CPRO Fund is equal to the resources of the Legal Reserve Funds for National and Foreign Currency (FRAL MN y ME) available after the application of legal reserve rates and may be increased with voluntary contributions.

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Lineage: Superseded

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Amended 1 time · last 2022-08-31

2022-08-31BCBCIEX No. 41/2022: Legal Reserve Regulationsupersedes

Source: Banco Central de Bolivia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works