Circular CAMCO 1-116 and OPASI 2-196: Modification in the Design and Model of Negotiable Instruments Processed by Clearing Houses

"1998 - Year of the Municipalities"

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
__________________________________________________________________ COMMUNICATION "A" 2798 06/11/98 __________________________________________________________________ TO FINANCIAL ENTITIES:
Ref.: Circular
CAMCO 1 - 116.
OPASI 2 - 196.
Modification in the design and model of the negotiable instruments processed by the Clearing Houses

We address you to inform you that, with the objective of uniforming among Financial Entities the data disposition and the format of the body of the document, modifications have been made to Annex I (Design of documents) and Annex V (Models of documents) previously disseminated through Communication "A" 2517.

We attach the sheets that must replace those corresponding to said annexes of the text made known by Circular CAMCO 1 - 83 by said communication.

The entities must deliver checkbooks adjusted to the new models within a period of 120 days from the date.

We salute you very attentively.

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
Julio Cesar Pando Hector O. Biondo
Submanager of Current Accounts Submanager General and Compensation of Securities of Operations

ANNEX I
DESIGN OF DOCUMENTS.

The design of the body of the document must adjust to the characteristics of the provisions in force and to the models contained in Annex III containing the essential statements established in articles 2 and 4 for common checks and 54 for deferred payment checks, according to Law 24.452, its modification - Law 24.760 - and corresponding regulatory norm.

In the upper right corner, a space or area of 20 mm high by 50 mm wide will be left, intended for the recording of the amount in numbers (in the upper part of said area) and for the inclusion of the routing code (boxed, in the lower part of said area), for the printing in numerical characters of the data corresponding to area 2 (pre-magnetized) of the SCAN line, distributed in three successive lines, as indicated below:

First line: the code of the drawn entity, the type of house and the postal code of the payment address, all separated by a hyphen; Second line: the check number; Third line: the account number;

To the right of each of the three lines mentioned, separated by a blank space, a check digit must appear, whose calculation methodology is indicated in Annex II of the present.

Entity Code: the code assigned to each entity must be used. In the case of entities whose identification number is one or two digits, two or one zero must be added to the left respectively, with the purpose that the code consists of three digits. For the case of documents expressed in United States dollars, the entity number will be determined by adding 500 to the code assigned to the bank.

House Type Code: To this effect, each entity will assign its houses a three-digit code, according to the following criterion:
Head Office and/or sole as 000
Main Office as 999
Branches or subsidiaries in a correlated manner from 001 to 998.

Payment Address Code: The following four digits indicate the postal code of the payment address according to the guide published by ENCOTESA.

The format of the data to be included in the routing code must be such as to allow clear visualization of the same. Entities are recommended to print this data in a font size no smaller than that corresponding to the XEROX UN208E standard, as well as a font type similar to the same.

To the right of the legend specifying the type of document, it will be identified by the printing of the signs CPD-$, CNT-$, CPD-U$S and CNT-U$S, depending on whether they are deferred payment checks and transferable named certificates, in pesos or United States dollars respectively.

ANNEX V
MODELS OF DOCUMENTS.

1. Specifications and measurements of the documents.
2. Check in pesos.
3. Check in United States dollars.
4. Deferred payment check in pesos.
5. Deferred payment check in United States dollars.
6. Back of deferred payment checks in pesos and United States dollars.
7. Transferable named certificate in pesos - with guarantee -.
8. Transferable named certificate in United States dollars - with guarantee -.
9. Back of transferable named certificates in pesos and United States dollars - with guarantee -.

The models that constitute this Annex will be disseminated together with the printed text of this Communication.