Regulatory Alerts2026-07-08 | A 8450Added · Updated
Circular LISOL 1-1147 OPRAC 1-1314: Financing of the Non-Financial Public Sector. Chaco Province 2026 Letter Issuance Program. Interest Rate Modification
The Central Bank of the Argentine Republic issued Communication A 8450 to authorize a modification of the maximum spread on the TAMAR rate for the Chaco Province's 2026 Treasury Letter issuance program. The resolution waives standard observations regarding the spread cap, which is set at 700 basis points, in accordance with specific Ministry of Economy notes. Financial institutions are explicitly prohibited from applying their foreign currency deposit lending capacity to subscribe to these treasury letters.
"2026 - YEAR OF ARGENTINE GREATNESS" "2026 - YEAR OF ARGENTINE GREATNESS"
COMMUNICATION "A" 8450 08/07/2026
TO FINANCIAL ENTITIES:
Ref.: Circular LISOL 1-1147, OPRAC 1-1314: Financing of the Non-Financial Public Sector. Chaco Province 2026 Letter Issuance Program. Interest Rate Modification.
We address you to inform you that this Institution has adopted the resolution that, in its pertinent part, provides:
"- To not formulate observations, within the framework of the restriction contained in point 2.1 of the consolidated text on Financing of the Non-Financial Public Sector, regarding the modification of the maximum spread applicable to the TAMAR rate – which shall not exceed 700 (seven hundred) basis points – for the issuance of treasury letters within the framework of the Chaco Province Treasury Letter Issuance Program for the fiscal year 2026 – previously authorized as appears from Communication A 8386 – in accordance with the conditions established in notes NO-2026-01814386-APN-SH#MEC and NO-2026-65681214-APN-SH#MEC of the Secretariat of Finance of the Ministry of Economy of the Nation and without prejudice to the compliance by the intervening financial entities of the provisions on the fragmentation of credit risk provided in that regulation.
The intervening financial entities shall not apply their lending capacity from foreign currency deposits to the subscription of the aforementioned treasury letters, in accordance with what is provided in Section 2. of the consolidated text on Credit Policy."
We salute you attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Principal Manager of Issuance and Normative Applications General Deputy Manager of Financial Regulation