CIEX No. 33/2020: Constitution of the CAPROSEN Fund

EXTERNAL CIRCULAR GENERAL PROCESSING
BLANKED
La Paz, July 7, 2020
CIEX No. 33/2020
FROM: GENERAL MANAGEMENT
FINANCIAL ENTITIES MANAGEMENT
TO: FINANCIAL INTERMEDIATION ENTITIES
SUBJECT: CONSTITUTION OF THE CAPROSEN FUND

Ladies and Gentlemen:

The Central Bank of Bolivia (BOB) informs Financial Intermediation Entities (EIFs) that on June 29, 2020, through Board Resolution No. 60/2020, the BOB approved the reduction of Legal Reserve rates for Titles and in Cash in national and foreign currency. This modification in the structure of legal reserve rates releases resources, which are used to constitute the "Fund for Loans in National Currency for the Acquisition of National Products and Payment of Services of National Origin (CAPROSEN)". The participation of each EIF in the CAPROSEN Fund is equal to its participation in the released resources.

The resources of the CAPROSEN Fund will serve as collateral for the liquidity loans in national currency that each EIF requests from the BOB under the conditions established in BOB Board Resolution No. 60/2020. Monthly control of the growth of the portfolio granted by the EIFs will begin from the sworn declarations presented with a code of end of month of August 2020.

EIFs may submit requests for liquidity loans with collateral from the CAPROSEN Fund starting today, Tuesday, July 7, 2020.

Sincerely,

JOAQUIN ROLANDO LOPEZ BAKOVIC
MANAGER OF FINANCIAL ENTITIES
CENTRAL BANK OF BOLIVIA

• ABEL SANJINES ALVAREZ
  GENERAL MANAGER a.i.
  CENTRAL BANK OF BOLIVIA

A AFSA/JRLB/r /ceol/ampm
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