CIEX No. 39/2019: Subscription of Account Opening and Financial Services Contract

The Central Bank of Bolivia requires State-owned or majority State-owned financial entities and private financial intermediation entities participating in the Integrated Payment Liquidation System (LIP) to subscribe to a new Account Opening and Financial Services Contract by June 14, 2019. Entities must submit a written request along with a special power of attorney granted before a public notary, which must include specific clauses authorizing the Bank to manage liquidity reserves, execute debits, collect fees, and handle digital signatures. The power of attorney must be registered with FUNDEMPRESA, except for savings and credit cooperatives and development financial institutions, and failure to comply will result in sanctions reported to the ASFI.

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GENERAL DIRECTORATE
La Paz, 31 May 2019
CIEX No. 39/2019
FROM GENERAL DIRECTORATE
TO STATE FINANCIAL ENTITIES OR WITH MAJORITARY STATE PARTICIPATION AND PRIVATE FINANCIAL INTERMEDIATION ENTITIES SUBJECT: SUBSCRIPTION OF ACCOUNT OPENING AND FINANCIAL SERVICES CONTRACT

Ladies and Gentlemen:

In the framework of the Political Constitution of the State of February 2009, Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia (BCB) and Law No. 393 of August 21, 2013, which grant the authority to regulate the BCB payment system, and considering that new regulations concerning legal reserves, payment services, electronic payment instruments, compensation and liquidation, the Integrated Payment Liquidation System, among others, have been issued, the BCB communicates to the State Financial Entities or with majority State participation and to the Private Financial Intermediation Entities that are current participants of the LIP System, that a new "Account Opening and Financial Services Contract" will be subscribed, which will render void the current Contracts subscribed with the Issuer Entity.

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Lineage: In force

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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