Regulatory Alerts2020-12-29 | CIEX N° 59/2020Added · Updated
CIEX No. 59/2020: Interoperability of Electronic Channels and 24/7 Operations for Payment Order Processing
The Central Bank of Bolivia mandates that participants in the Integrated Payment Settlement System enable electronic channels for 24/7 processing of Electronic Fund Transfer Orders and ensure full interoperability of payment channels for authorized Electronic Payment Instruments. The regulation establishes specific compliance deadlines based on entity type: clearing houses, mobile payment service companies, and electronic card administrators must meet interoperability requirements by March 1, 2021; savings and credit cooperatives and housing finance entities must enable 24/7 OETF channels by March 31, 2021; development financial institutions and banks with mobile wallet services must comply by April 30, 2021. Entities must submit detailed schedules of tasks and deadlines to the Financial Services Supervisory Authority and the Central Bank, with non-compliance subject to measures under Financial Services Law No. 393.
Calle Ayacucho esquina Mercado - Teléfono: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz – Bolivia EXTERNAL CIRCULAR La Paz, December 23, 2020 CIEX No. 59/2020 FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: PARTICIPANTS IN THE INTEGRATED PAYMENT SETTLEMENT SYSTEM SUBJECT: INTEROPERABILITY OF ELECTRONIC CHANNELS AND 24/7 OPERATIONS FOR THE PROCESSING OF PAYMENT ORDERS
Gentlemen:
The Central Bank of Bolivia (BCB), within the framework of its regulatory powers over the national payment system, regulated the provision of the Electronic Fund Transfer Order (OETF) service to accounts throughout the financial system through the connection of entities to the Deferred Settlement Module (MLD) or to a Clearing and Settlement Chamber1.
With the purpose of promoting greater utilization and full interoperability in the processing of Electronic Payment Instruments (EPI), within the framework established in the MLD Regulation2, participating entities of the Integrated Payment Settlement System (LIP) must enable electronic channels for the processing of OETFs 24 hours a day, 7 days a week.
In this regard, they must comply with the deadlines committed to the Financial System Supervisory Authority (ASFI)3 or submit a rescheduling or reformulation of their schedules based on a financial viability analysis that considers the context generated by COVID-19 and specific tasks for achieving full interoperability in the processing of EPIs, which must be approved by the respective instances according to the corporate governance of each entity.
Additionally, as part of the activities to achieve full interoperability of the payment infrastructure, LIP participating entities must submit to the ASFI and the BCB a schedule with tasks and deadlines according to the following detail:
1 External Circular SGDB No. 017/2018 of March 28, 2018. 2 Third Additional Provision (Availability of technological resources) of the MLD Regulation approved with BCB Board Resolution No. 78/2020 of August 25, 2020. 3 Circular letters ASFI/DSR II/CC-11985/2019 of November 4, 2019 and ASFI/DSR II/CC-3782/2020 of July 24, 2020.
Calle Ayacucho esquina Mercado - Teléfono: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz – Bolivia
| Entity Type | Objective | Final Deadline for Sending Documentation |
|---|---|---|
| Clearing and Settlement Chambers, Mobile Payment Service Companies, and Electronic Card Administrator Companies | Interoperability of payment channels for the processing of all authorized EPIs | March 1, 2021 |
| Savings and Credit Cooperatives | Enablement of electronic channels for the processing of OETFs and 24/7 operations | March 31, 2021 |
| Housing Finance Entities | Enablement of electronic channels for the processing of OETFs and 24/7 operations | March 31, 2021 |
| Development Financial Institutions | Enablement of electronic channels for the processing of OETFs and 24/7 operations | April 30, 2021 |
| Banks that have the mobile wallet service | Interoperability of payment channels for the processing of authorized EPIs | April 30, 2021 |
The ASFI, within the framework of its powers established in Law No. 393 on Financial Services, will apply the corresponding measures when a supervised entity fails to meet the defined deadlines.
Sincerely,
DIGITALLY SIGNED DOCUMENT Sergio Marcelo Cerezo Aguirre FINANCIAL ENTITIES MANAGER Rubén Gonzalo Ticona Chique GENERAL MANAGER
Validate digital signatures at: validar.firmadigital.bo RGTCH/SMCA/ropr/pmms/aaoa