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2019-10-11 | CIEX N° 61/2019

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CIEX No. 61/2019: Subscription of Account Opening and Financial Services Contract

The Central Bank of Bolivia requires participating entities of the Integrated Payment Settlement System (LIP), including clearing houses, deposit entities, and payment service companies, to subscribe to a new Account Opening and Financial Services Contract by October 18, 2019. Participants must submit a written request to the General Management specifying legal representatives and attach a special power of attorney registered with FUNDEMPRESA that grants specific authorities for contract management, debit authorization, fee collection, fund transfers, and digital signature operations. Failure to comply will result in the Central Bank reporting the situation to the Financial System Supervision Authority (ASFI) for the application of corresponding fines or sanctions.

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[Logo: BANCO CENTRAL DE BOLIVIA]

BANCO CENTRAL DE BOLIVIA PLURINATIONAL STATE OF BOLIVIA

BCB-DGD-VUC 2019 OCT 11 AM 11: 39

EXTERNAL CIRCULAR GENERAL PROCESS DISPATCHED La Paz, October 10, 2019 CIEX No. 061/2019

FROM: GENERAL MANAGEMENT MANAGEMENT OF FINANCIAL ENTITIES TO: CLEARING AND SETTLEMENT CHAMBERS, VALUE DEPOSIT ENTITIES, AND PAYMENT SERVICE COMPANIES PARTICIPATING IN THE INTEGRATED PAYMENT SETTLEMENT SYSTEM (LIP) SUBJECT: SUBSCRIPTION OF ACCOUNT OPENING AND FINANCIAL SERVICES CONTRACT

Ladies and Gentlemen:

Within the framework of the Political Constitution of the State of February 2009, Law No. 1670 of October 31, 1995, and Law No. 393 of August 21, 2013, which grant the BCB the authority to regulate the payment system, and considering that the new version of the "Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement" was issued, the BCB informs participating entities of the LIP System that a new "Account Opening and Financial Services Contract" will be subscribed, which will render current contracts null and void.

In this regard, participating entities of the LIP System must request in writing to the General Management of the Central Bank of Bolivia (BCB) by October 18, 2019, without fail, the subscription of the new "Account Opening and Financial Services Contract," specifying the name(s) of the legal representative(s) of the Entity. To this effect, entities must send to the Issuing Entity the respective special power of attorney¹ granted before a Notary Public, with the authority to subscribe any contract with the BCB for the purpose of implementing the Regulation on Legal Reserve for Financial Intermediation Entities and the Regulation of the Integrated Payment Settlement System, which must contain textually and without limiting character the following wording:

(NAME OF THE ENTITY) grants special power of attorney to (NAME OF LEGAL REPRESENTATIVE/S) to perform the following acts on its behalf and representation:

¹ Including photocopy of the Identity Card(s) of the Legal Representative(s) of the Entity.

The BCB contributes to the economic and social development of the country Ayacucho Street corner Mercado - Telephone: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz - Bolivia

[Logo: BANCO CENTRAL DE BOLIVIA]

BANCO CENTRAL DE BOLIVIA PLURINATIONAL STATE OF BOLIVIA

  1. Subscribe, modify, resolve and/or rescind any type of contract or document with the BCB to operate in the Integrated Payment Settlement System.
  2. Authorize the BCB to perform debits from the settlement accounts enabled at the Issuing Entity, to operationalize the management of its accounts.
  3. Authorize the BCB to collect commissions and fines according to the BCB's "Commission Table for Services" and "Fine Table," respectively.
  4. Authorize the BCB to perform fund transfers, including automatic credits and debits from its various accounts at the BCB, in order to operationalize the Integrated Payment Settlement System, as well as for the management of the aforementioned accounts.
  5. Accredit before the BCB the authorized signatures for the management of its accounts and any act derived from the contractual relationship with the BCB.
  6. Constitute and delegate the constitution of guarantees in the name of (NAME OF THE ENTITY) over cash, fixed income securities and/or any other financial document deposited in its name in its settlement and guarantee accounts.
  7. Generate the digital signature to be used in any electronically signed document in the Integrated Payment Settlement System.
  8. Deliver and/or receive self-signed digital certificates and/or digital certificates issued by the corresponding Certification Entity.
  9. Subscribe minutes of exchange of self-signed digital certificates.

Regarding this, in accordance with what is provided in Article 165 of the Commercial Code, the Testimony of Special Power of Attorney sent to the BCB by financial entities for the subscription of the new "Account Opening and Financial Services Contract" must be registered with FUNDEMPRESA (Concessionaire of the Bolivian Commercial Registry).

Furthermore, it is clarified that it is not necessary to send additional legal documentation to the BCB, except for modifications to the documents previously sent for the subscription of the current contract within the framework of the LIP System.

It should be noted that in case of non-compliance with the provisions of this Circular by the participating entities of the LIP, the BCB will communicate this situation to the Financial System Supervision Authority (ASFI) so that this authority applies the corresponding fines or sanctions.

The BCB contributes to the economic and social development of the country Ayacucho Street corner Mercado - Telephone: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz - Bolivia

[Logo: BANCO CENTRAL DE BOLIVIA]

BANCO CENTRAL DE BOLIVIA PLURINATIONAL STATE OF BOLIVIA

For any doubts or inquiries, contact the email addresses ayudalip@bcb.gob.bo or rcamacho@bcb.gob.bo or the telephone number 2661236.

Sincerely,

[Signature] JULIO HUMEREZ QUIROZ MANAGER OF FINANCIAL ENTITIES a.i. BANCO CENTRAL DE BOLIVIA

[Signature] CARLOS A. COLODRO LÓPEZ GENERAL MANAGER a.i. BANCO CENTRAL DE BOLIVIA

CACL/JHQ/aamr/ropr/sbdc/ampm//jdgq C.c. Archive

The BCB contributes to the economic and social development of the country Ayacucho Street corner Mercado - Telephone: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz - Bolivia

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