Circular LISOL 1 - 175. Minimum liquidity requirements. Integration of stand-by letters of credit. Complementary rules

BANCO CENTRAL DE LA REPUBLICA ARGENTINA ______ COMMUNICATION "A" 2641 22/12/97 ______ TO FINANCIAL ENTITIES:
Ref.: Circular
LISOL 1 - 175.
Minimum liquidity requirements. Integration with stand-by letters of credit. Complementary rules

We address you to inform you that this Institution adopted the following resolution:

"- Replace, effective from 1.1.98, point 3.2. of Section 3. Integration, of the norms on Minimum liquidity requirements (T.O.) -text according to point 2. of the resolution disseminated by the Communication "A" 2636-, with the following:

"3.2. The integration in the admitted concepts will only be computable up to the following maximum limits, measured with respect to the minimum requirement of each period:

Concept Maximum computable -in %- a) Points 3.1.1. and 3.1.4. (in total) 100 b) Points 3.1.2., 3.1.3., 3.1.5. and 3.1.7. to 3.1.11 (in total) 80 c) Point 3.1.5. (within the mar- gin preceding) 10 d) Point 3.1.7. (within the mar- gin of 80%) 5 e) Points 3.1.9. and 3.1.11. (with- in the margin of 80%) 30 f) Point 3.1.6. 50

When opting to use the concept provided for in point 3.1.6., it will be required that the amount of the pertinent letters of credit reach, as a minimum, to twice the sum computed as integration."

We salute you very attentively.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA Juan Carlos Isi Alfredo A. Besio Submanager of Norms Manager of Norms for for Financial Entities Financial Entities