Circular LISOL 1-1106 OPRAC 1-1286 REMON 1-1133 OPASI 2-735: Minimum Cash, Net Foreign Currency Position, Bank Current Account Regulation, and Non-Financial Public Sector Financing Adjustments

"Year of the Reconstruction of the Argentine Nation" COMMUNICATION “A” 8264 26/06/2025 TO FINANCIAL ENTITIES:
Ref.: Circular LISOL 1-1106, OPRAC 1-1286, REMON 1-1133, OPASI 2-735:
Minimum Cash. Net Foreign Currency Position. Regulation of the Bank Current Account. Financing to the Non-Financial Public Sector. Adjustments. ___________________________________________________________________________ We address you to inform you that this Institution has adopted the resolution which, in its pertinent part, establishes:
“- Replace, with effect from 01/07/25, the rates provided in points 3.1.1 of the consolidated text on Minimum Cash, 3.1 of the consolidated text on Net Foreign Currency Position, 11.3 of the consolidated text on Regulation of the Bank Current Account and 9.3 of the consolidated text on Financing to the Non-Financial Public Sector, and the rate applicable to the calculation of the “non-compliance charge” to be charged to financial entities in operations for the purchase and sale of securities with this Institution, by the Total Banks' Wholesale Rate of Argentina (TAMAR).” Regarding this, we forward you the sheets that, in replacement of those previously provided, should be incorporated into the referenced consolidated texts. In this sense, it is recalled that on this Institution's website www.bcra.gob.ar, by accessing “Financial System - LEGAL AND REGULATORY FRAMEWORK - Consolidated texts and summaries - General consolidated regulatory texts”, the modifications made with texts highlighted in special characters (strikethrough and bold) will be found. We salute you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Principal Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation
ANNEX

3.1. Charge.
3.1.1. Deficiencies in the integration of minimum cash in pesos, foreign currency and securities and monetary regulation instruments, as well as the daily minimum integration, will be subject to a charge in pesos equivalent to 1.5 times the Total Banks' Wholesale Rate of Argentina (TAMAR), reported for the last business day of the relevant period or, in its absence, the last available.
When deficiencies in the average position and the daily minimum integration occur concurrently in the same period, the greater resulting charge shall be paid. To determine position deficiencies, the following will be considered:
i) those for which the option to transfer them is not exercised. ii) those that are not susceptible of being transferred to the following period due to exceeding the admitted margin.
3.1.2. Charges may be reduced in exceptional cases, when mitigating circumstances exist and weighing the causes that originated the non-compliance.
3.1.3. Charges not paid in a timely and proper manner will be subject, during the non-compliance period, to an interest equivalent to the rate resulting from adding 50% to the rate applicable to the deficiency, as provided in point 3.1.1.
3.1.4. The charge will be calculated with the following expression:
c = D x TNA / 36500
Where c: charge amount.
D: deficiency subject to charge, expressed in numerals.
TNA: annual nominal rate applicable to non-compliance, as a percentage.
B.C.R.A. MINIMUM CASH
Section 3. Non-Compliances.
Version: 18th COMMUNICATION “A” 8264 Validity:
01/07/2025 Page 1

CONSOLIDATED TEXT | ORIGINATING STANDARD | OBSERVATIONS ---|---|--- Sec. Point Para. Com. Annex Sec. Point Para.

1. |
   1.6. “A” 3274 II 1. 1.5. According to Com. “A” 3498.
   1.7. “A” 3274 II 1. 1.6
   1.7.1. “A” 3274 II 1. 1.6.1. According to Com. “A” 4405, 4449, 6349, 6719 and 7046.
   1.7.2. “A” 3274 II 1. 1.6.2. According to Com. “A” 3304, 4449, 6349 and 6719.
   1.8. “A” 3498 single 1. 1.8. According to Com. “A” 4147, 6537, 7003 and 7570.
2. |
   2.1. “A” 3274 II 2. 2.1. According to Com. “A” 3498, 3597, 4716, 4815, 6288, 6763 and “B” 9186.
   2.1.1. “A” 3274 II 2. 2.1.2. According to Com. “A” 3304, 3498, 4016 and 4147.
   2.1.2. “A” 3498 single 2. 2.1.3. According to Com. “A” 4147.
   2.1.3. “A” 3274 II 2. 2.1.3. According to Com. “A” 3498, 4147, 4276 and 5194.
   2.1.4. “A” 3274 II 2. 2.1.4.
   2.1.5. “A” 4016 1.
   2.1.6. “A” 4716 2. According to Com. “A” 6628 and “B” 9186.
   2.2. “A” 3274 II 2. 2.2. According to Com. “A” 3498, 4449, 4716, 5299, 6349, 6719 and 6774.
   2.3. “A” 3365 2. According to Com. “A” 3387, 3470, 3498, 3549, 3597, 3732, 3824, 4016, 4449, 4716, 5152, 5299, 5373, 6288, 6349, 6575, 6616, 6719, 7046 and “B” 9186.
   2.4. “A” 4147 3. According to Com. “A” 4276, 4449, 4509, 5152, 5299, 6349, 6719 and 7046.
   2.5. “A” 4147 3. According to Com. “A” 4393, 4509, 4716, 5299 and 8124.
3. |
   3.1. “A” 3274 II 3. 3.1.
   3.1.1. “A” 3274 II 3. 3.1.1. According to Com. “A” 3326, 3365, 3498, 3549, 3905, 4276, 4449, 4473, 4707, 4716, 4862, 5356, 6349, 6638, 6719, 7939, 8264 and “B” 9186.
   3.1.2. “A” 3274 II 3. 3.1.2.
   3.1.3. “A” 3274 II 3. 3.1.3. According to Com. “A” 3326.
   3.1.4. “A” 3274 II 3. 3.1.4.
   3.2. “A” 3274 II 3. 3.2. According to Com. “A” 6719 and 7046.
   3.2.1. “A” 3274 II 3. 3.2.2. 1. According to Com. “A” 4449, 6349 and 6719.
   3.2.2. “A” 3274 II 3. 3.2.2. 2. According to Com. “A” 4449 and 6719.
   3.3. “A” 3274 II 3. 3.3. According to Com. “A” 3498.
   3.3.1. “A” 3274 II 3. 3.3.1. According to Com. “A” 4771 and 6275.
   3.3.2. “A” 3274 II 3. 3.3.2.

3.1. Charges.
The excesses to these relationships will be subject to a charge equivalent to 1.5 times the Total Banks' Wholesale Rate of Argentina (TAMAR). To calculate the charge, the rate reported by this Institution corresponding to the last business day of the reporting period or, in its absence, the last available, will be applied –to the excess amount in pesos–. When concurrent excesses in the net global position and the spot position provided for in point 2.2 are verified, the greater resulting charge shall be paid. Charges not paid in a timely and proper manner will be subject, during the non-compliance period, to an interest equivalent to the rate resulting from adding 50% to the rate applicable to the excesses to these relationships.
3.2. Sanctions.
Without prejudice to the application of what is provided in point 3.1., the provisions of article 41 and related articles of the Financial Entities Law will apply. B.C.R.A. NET FOREIGN CURRENCY POSITION
Section 3. Non-Compliances.
Version: 8th COMMUNICATION “A” 8264 Validity:
01/07/2025 Page 1

CONSOLIDATED TEXT | ORIGINATING STANDARD | OBSERVATIONS ---|---|--- Sec. Point Para. Com. Annex Sec. Point Para.

1. |
   1.1. “A” 3889 1. According to Com. “A” 4135, 4140, 4150, 4577, 6396, 6663, 6776 and 7786.
   1.2. “A” 4350 2. According to Com. “A” 5834, 5847, 5851 and 7029.
   1.2.1. “A” 4350 2.
   1.2.2. “A” 5847 1. According to Com. “A” 5851.
   1.2.3. “A” 7545 1.
   1.2.4. “A” 7556 5. According to Com. “A” 7571.
   1.2.5. “A” 7556 5.
   1.2.6. “A” 7556 5.
2. |
   2.1. “A” 3889 1. According to Com. “A” 4577, 4598, 5834, 5851, 6128, 6233 and 6507.
   2.2. “A” 3889 1. According to Com. “A” 4350, 4598, 5536, 5611, 5627, 5834, 5851, 5891, 5917, 5935, 5997, 6128, 6233, 6501, 6507, 6526, 6735, 6754, 6759, 6763, 6770, 6774, 6775, 7003, 7022, 7071, 7101, 7405, 7416, 7417, 8025, 8093 and 8154. Includes regulatory clarification.
3. |
   3.1. “A” 3889 1. According to Com. “A” 4350, 5356, 5550, 6091, 6638, 6754, 6759, 7939 and 8264.
   3.2. “A” 5550 2.
4. |
   4.1. “A” 6526 7. According to Com. “A” 6699, 6735 and 7093.
   4.2. “A” 6846 4. According to Com. “A” 7029 and 7036.
   4.3. “A” 8235

B.C.R.A. ORIGIN OF THE PROVISIONS CONTAINED IN THE CONSOLIDATED TEXT ON NET FOREIGN CURRENCY POSITION

11.1. Account opening.
Entities will open a special account designated “CENTRAL BANK OF THE ARGENTINE REPUBLIC - Law 25.730”, in which the amounts debited from the relevant current accounts for fines due to check rejections for lack of funds or authorization for overdraft, formal defects and rejection of deferred payment checks will be registered, as well as the withholdings they receive from their clients for said concepts. In cases where direct debits to clients' current accounts are not possible, entities and their clientele may freely agree on the cancellation method (cash deposits, transfers, etc.), ensuring the issuance of relevant statements with essential operation data.
11.2. Information on withholdings.
The information to the Central Bank of the Argentine Republic (BCRA) regarding payments by clientele will comply with the operational formalities governing the matter.
11.3. Balance transfers.
Their execution will be carried out in accordance with the operational provisions established by the BCRA.
Amounts not paid in a timely and proper manner to this Institution by financial entities will be subject to an interest equivalent to 1.5 times the Total Banks' Wholesale Rate of Argentina (TAMAR). For this purpose, the rate reported by the BCRA corresponding to the last business day of the non-compliance period or, in its absence, the last available will be taken into account. B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT
Section 11. Procedure for receiving legally due deposit fines.
Version: 6th COMMUNICATION “A” 8264 Validity:
01/07/2025 Page 1

REGULATION OF THE BANK CURRENT ACCOUNT
CONSOLIDATED TEXT | ORIGINATING STANDARD | OBSERVATIONS Sec. Point Para. Com. Annex Chap. Sec. Point Para.
8. 8.9. “A” 2514 single 1.7.
9. |
9.1. “A” 4063 1. According to Com. “A” 4971.
9.2. “A” 2514 single 1.5. According to Com. “A” 3244.
1st “A” 2514 single 1.5.2. According to Com. “A” 3244 and 4063 (pt. 1.).
9.2.1. “A” 3075 According to Com. “A” 6042 and 6448.
9.2.1.1. “A” 2514 single 1.5.2. 1st According to Com. “A” 3075 and 3169.
9.2.1.2. “A” 2514 single 1.5.2. 2nd According to Com. “A” 3075, 3169 and 3244.
9.2.1.3. “A” 2514 single 1.5.2. 3rd
9.2.1.4. “A” 3075 According to Com. “A” 3169 and 3244.
9.2.2. “A” 2514 single 1.5.2. 1st According to Com. “A” 3075, 3169 and 3244.
9.2.2.1. “A” 2514 single 1.5.2. 1st According to Com. “A” 3075, 3169, 3244 and 4063 (pt. 1.).
9.2.2.2. “A” 3075 single 9.2. and 9.1.1. 1st According to Com. “A” 3169, 3244 and 4063 (pt. 1.).
9.3. “A” 2514 single 1.5.
9.3.1. 1st “A” 2514 single 1.5.3.3. 1st and 2nd According to Com. “A” 3244.
2nd “A” 2514 single 1.5.2. 2nd and 5th According to Com. “A” 3244.
9.3.2. “A” 2514 single 1.5.3.3. 3rd According to Com. “A” 3075 and 3244.
9.4. “A” 2514 single 1.7.
10. |
10.1. 1st “A” 2514 single 1.6.3. 3rd According to Com. “A” 3075 and 6725.
2nd “A” 2514 single 1.6.3. 4th According to Com. “A” 3075, 3244 and 4063 (pt. 1.).
10.2. “A” 3075
10.2.1. a 10.2.4. “A” 2514 single 1.9.4. Texts that replace model formula notices. According to Com. “A” 3075, 3235, 3244, 3831, 4063 (pt. 1.) and 6725.
11. |
11.1. “A” 4063 4.
11.2. “A” 4063 4.
11.3. “A” 4063 4. According to Com. “A” 6638, 7939 and 8264.
12. |
“A” 3075
12.1. “A” 2530
12.1.1. 1st “A” 2530 1st According to Com. “A” 3075.
2nd “A” 2530 3rd and 4th
12.1.2. “A” 2530 2nd
12.2. “A” 1199 I 5.1.
12.2.1. “A” 1199 I 5.1.1.
12.2.2. “A” 1199 I 5.1.2.
12.2.3. “A” 1199 I 5.1.3.
12.3. “A” 2514 single 1.13.2. According to Com. “A” 3075.
12.4. “B” 6572 According to Com. “A” 5388.
12.5. “A” 3235
12.6. 1st “A” 5212

9.1.3.4. Margin computation.
For the purpose of determining the status of relationships on credit risk segmentation and the consequent observance of admitted excesses, the declared margin amount –used or not– together with other computable assets will be taken into account.
9.1.3.5. Margin non-observance.
Margin non-observance will receive the treatment provided in Section 2 of the TO on Minimum Capital and Technical Relationships. Applicable Criteria. For this purpose, the excess over the 25% RPC limit or the lower limit opted by the entity will be considered.
9.1.4. Debt instruments issued by financial trusts or fiduciary funds for construction financing, in which the National State's participation as settlor has exceeded 50% referred to in point 3.2.4., which for this reason became subject to the maximum limits established in point 6.1.1.1, without prejudice to the computation referred to in point 6.1.2.3.
9.1.5. Financing to public trusts or fiduciary funds.
For entities that register admitted excesses, the expanded maximum individual limits referred to in point 6.1.1.2 will be equivalent to the positive difference between 15% of the entity's RPC and the respective admitted excess. This, without prejudice to the application of collected amortizations admitted in point 9.1.2.
9.2. All national peso-denominated public bonds and securities applied to the integration of minimum cash in that currency (in accordance with points 1.3.16 and 1.3.17 of the TO on Minimum Cash) will be excluded from the limits provided in these regulations.
9.3. The “National Treasury Capitalizable Peso Notes” (LECAP), primarily subscribed for own portfolio from 16/05/24 up to an amount equivalent to the accumulated decrease in passive swap balances with the BCRA recorded at the close of operations on 15/05/24 –updated according to the interest rate paid by the BCRA for these operations, from 22/07/24 according to the Monetary Policy Rate and since 01/07/25 according to the Total Banks' Wholesale Rate of Argentina (TAMAR)– and until the date of integration of such LECAP; also includes those acquired in the secondary market from 05/07/24.
B.C.R.A. FINANCING TO THE NON-FINANCIAL PUBLIC SECTOR
Section 9. Transitional provisions.
Version: 27th COMMUNICATION “A” 8264 Validity:
01/07/2025 Page 3

9.4. National public securities included in point 6.2.10 whose liquidity options contracted with the BCRA are rescinded will be excluded from the limits provided in Section 6.
The exclusion, determined as a percentage based on the accounting valuation of the securities –from the day prior to the date of rescission of the liquidity options contracted with the BCRA– on the computable equity liability –last available data–, will remain valid for 12 months following the amortization of the securities that originated them –recalculating the mentioned exclusion percentage–, without prejudice to their negotiation. B.C.R.A. FINANCING TO THE NON-FINANCIAL PUBLIC SECTOR
Section 9. Transitional provisions.
Version: 1st COMMUNICATION “A” 8264 Validity:
01/07/2025 Page 4

FINANCING TO THE NON-FINANCIAL PUBLIC SECTOR
CONSOLIDATED TEXT | ORIGINATING STANDARD | OBSERVATIONS Section Point Para. Com. Chap. Point Para.
6. |
6.3.1. “A” 4230 2. According to Com. “A” 5472, 6091, 6327 and 6635. Includes interpretative clarifications.
6.3.2. “A” 4937 According to Com. “A” 4996, 5015, 5472 and 6635.
6.3.3. “A” 6635
6.3.3.1. “A” 4725 According to Com. “A” 5472, 6635, 6978, 7443, “C” 50385 and 50828. Includes interpretative clarification.
6.3.3.2. “A” 4725 According to Com. “A” 5472, 6091, 6327, 6635, 8136 and “B” 10185.
6.3.4. “B” 5902 10. According to Com. “A” 5013, 5472 and 6635.
6.3.5. “A” 414 LISOL-1 According to Com. “A” 5472 and 6635. Includes interpretative clarification.
7. |
1st “A” 6635
7.1. “A” 2019 According to Com. “A” 2140, 5472 and 6635.
7.2. “A” 6635
7.2.1. “A” 4817 4. According to Com. “A” 4876, 5472 and 6635.
7.2.2. “A” 5472 According to Com. “A” 6635.
7.3. “A” 414 LISOL-1 According to Com. “A” 817, 4093, 5472, 6167, 6635 and 7944. Includes interpretative clarifications.
8. 8.