Circular LISOL 1-965, OPRAC 1-1128, REMON 1-1053, RUNOR 1-1710, OPASI 2-651: Minimum Cash. Cash and Term Settlement Operations, Repos, Guarantees, Other Derivatives and Investment Funds. Time Deposits and Investments. Financing Line for Productive Investment of SMEs. Interest Rates in Credit Operations. Adjustments. — BCRA — AR

COMMUNICATION "A" 7432 06/01/2022
TO FINANCIAL ENTITIES,
TO NON-FINANCIAL ENTERPRISES ISSUING CREDIT CARDS, TO NON-FINANCIAL ENTERPRISES ISSUING PURCHASE CARDS, TO OTHER NON-FINANCIAL CREDIT PROVIDERS:
Ref.: Circular
LISOL 1-965,
OPRAC 1-1128,
REMON 1-1053,
RUNOR 1-1710,
OPASI 2-651:
Minimum Cash. Cash and Term Settlement Operations, Repos, Guarantees, Other Derivatives and Investment Funds. Time Deposits and Investments. Financing Line for Productive Investment of SMEs. Interest Rates in Credit Operations. Adjustments. ___________________________________________________________________________ We address you to inform you that this Institution adopted the resolution that, in its pertinent part, establishes:

"1. To provide, for financial entities included in groups "A" and "B" –for the purposes of the regulations on "Minimum Cash"– and branches or subsidiaries of foreign banks classified as globally systemically important (G-SIB) not included in those groups, with effect for fixed-term deposits in pesos not adjustable by "UVA" or "UVI" in the name of holders from the non-financial private sector that these entities attract from January 7, 2022, inclusive, that the minimum passive rate provided for in point 1.11.1. of the regulations on "Deposits and time investments" shall be determined as follows:
a) For fixed-term deposits constituted by natural persons in the financial entity that do not exceed $ 10 million in total on the date of their constitution, it shall be 97.5% of the Monetary Policy Rate of the day prior to that on which the deposits are made, or the last one published, if applicable. When the fixed-term deposits are constituted in the name of two or more natural persons, the amount of the fixed-term deposit shall be distributed proportionally among their holders. b) For deposits not included in the preceding clause, it shall be 92.50% of the Monetary Policy Rate of the day prior to that on which the deposits are made, or the last one published, if applicable. For these purposes, the BCRA will timely disseminate the corresponding rate.

To repeal, with effect from January 7, 2022, point 1.11.1.2. of the regulations on "Deposits and time investments".
To substitute, with effect for deposits attracted from January 7, 2022, inclusive, point 2.8.2. of the regulations on "Deposits and time investments" with the following:
"2.8.2. Fixed prepayment rate.
If the option for early cancellation is exercised, the deposit shall accrue a fixed prepayment rate for the effectively elapsed term, which will be timely disseminated by the BCRA, based on the following expression:
TP = TPM x 0.85 where:
TP: fixed prepayment rate.
TPM: Monetary Policy Rate of the day prior to the date of constitution of the deposit, or the last one published, if applicable. This rate must be informed to the depositor and included in the record of the deposit."
To establish, with effect from January 10, 2022, that financial entities may maintain a net position in BCRA Liquidity Notes (LELIQ) of shorter issuance term –including those effectively allocated to integrate the minimum cash requirement in pesos as provided in points 1.3.7.1. and 1.3.17. of the regulations on "Minimum Cash"– up to an amount equivalent to the monthly average of daily balances of fixed-term deposits in pesos from the non-financial private sector of the previous period.
To comply, they must decrease their holdings as they collect them.
To provide, with effect from January 10, 2022, that financial entities that have a percentage of fixed-term deposits in pesos constituted by the non-financial private sector with respect to the total deposits in pesos of that sector –measured by monthly average of daily balances of the previous period, considering only capitals without interest or adjustments– equal to or greater than 20%, may maintain a positive net position of BCRA Liquidity Notes (LELIQ) of longer issuance term.
To repeal, with effect from January 10, 2022, the first paragraph of Section 8. and points 8.1. to 8.4. of the regulations on "Cash and Term Settlement Operations, Repos, Guarantees, Other Derivatives and Investment Funds".
To provide, with effect from January 10, 2022, that the BCRA Liquidity Notes (LELIQ) –provided for in points 1.3.7.1. and 1.3.17. of the regulations on "Minimum Cash"– that financial entities have admitted to integrate for the minimum cash requirement in pesos –of the period and daily– must be those of shorter issuance term.
To comply, they must decrease their holdings as they collect them.
To increase to 30% the percentage to determine the amount of the decrease in the average minimum cash requirement in pesos of the financings provided for in point 1.5.8. of the regulations on "Minimum Cash", for financings included in point 4.1. "Financing of investment projects" of the regulations on "Financing Line for Productive Investment of SMEs" that are agreed from January 10, 2022.
To substitute, with effect from January 10, 2022, the table of point 1.5.1. of the regulations on "Minimum Cash", with the following:

Participation of SME financings with respect to total financings to the non-financial private sector, in the entity. In %	Deduction (on the total of concepts included in pesos). In %
Less than 4	0.00
Between 4 and less than 6	1.00
Between 6 and less than 8	1.25
Between 8 and less than 10	1.50
Between 10 and less than 12	1.75
Between 12 and less than 14	2.00
Between 14 and less than 16	2.25
Between 16 and less than 18	2.50
Between 18 and less than 20	2.75
Between 20 and less than 22	3.00
Between 22 and less than 24	3.25
Between 24 and less than 26	3.50
26 or more	3.75

To increase, with effect for financings agreed from January 10, 2022, to 41% nominal annual fixed the rate provided for in point 5.1.2. of the regulations on "Financing Line for Productive Investment of SMEs".
To substitute, with effect from the billing cycle corresponding to January 2022, to 49% nominal annual the limit on compensatory interest for financings linked to credit cards that financial entities may apply, established in the first paragraph of point 2.1.1. of the regulations on "Interest Rates in Credit Operations".
This is subject to financial entities taking the necessary means to notify such limit to cardholders prior to its application."

On the other hand, we send you the sheets that, in replacement of those previously provided, must be incorporated into the regulations referenced. In this sense, it is recalled that on this Institution's website www.bcra.gob.ar, accessing "Financial System - LEGAL AND REGULATORY FRAMEWORK - Orders and summaries - Organized texts of general regulations", the modifications made with texts highlighted in special characters (strikethrough and bold) will be found.

We greet you attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Enrique C. Martin
Agustín Torcassi
Manager of Issuance
General Manager

ANNEX

"CAICC" tc-1: adjustment coefficient for "ICC", of the banking business day prior to the date of constitution of the deposit. The BCRA will periodically publish the daily peso value of "UVA" and "UVI". The principal amount to be received on the maturity date shall be the equivalent in pesos of the quantity of "UVA" or "UVI" deposited, calculated according to the value of "UVA" or "UVI", as applicable, on that date. These deposits may only be attracted and settled in pesos.

1.10. Deposits with incentives or remuneration –total or partial– in goods or services.
Holders must be advised about the nature of the remuneration for tax purposes.
The body of the document instrumenting the deposit must state that this requirement has been complied with. These deposits may only be made in pesos.

1.11. Remuneration.
1.11.1. Fixed rate deposits.
According to the rate freely agreed upon.
For financial entities included in groups "A" and "B" –for the purposes of the regulations on "Minimum Cash"– and branches or subsidiaries of foreign banks classified as globally systemically important (G-SIB) not included in those groups, when it comes to deposits in pesos not adjustable by "UVA" or "UVI" in the name of holders from the non-financial private sector, a minimum passive rate shall apply, which will be timely disseminated by the BCRA, as follows:

1.11.1.1. For fixed-term deposits constituted by natural persons in the financial entity that do not exceed $ 10 million in total on the date of constitution of each deposit, it shall be 97.5% of the Monetary Policy Rate of the day prior to that on which the deposits are made, or the last one published, if applicable.
When the fixed-term deposits are constituted in the name of two or more natural persons, the amount of the fixed-term deposit shall be distributed proportionally among their holders.

B.C.R.A. DEPOSITS AND TIME INVESTMENTS
Section 1. Fixed-term.
Version: 23rd COMMUNICATION "A" 7432 Validity:
07/01/2022 Page 7

1.11.1.2. For deposits not included in the preceding point, it shall be 92.5% of the Monetary Policy Rate of the day prior to that on which the deposits are made, or the last one published, if applicable.
For these purposes, renewals of these deposits shall be considered as new operations.
Clients who are debtors of the financings provided for in points 1.5.5. (financings within the framework of the health emergency provided for by Decree No. 260/2020 at a rate of up to 24%) and/or 1.5.7. (financings at a rate of up to 24% to SMEs not reported in the "Central Debtors of the Financial System") of the regulations on "Minimum Cash" and/or 1.1.3. of the regulations on "Financial Services within the framework of the health emergency provided for by Decree No. 260/2020 Coronavirus (COVID19)" are excluded from the minimum passive rate regime. For this purpose, financial entities must request a sworn declaration from depositors when the deposited capital exceeds $ 10 million.

1.11.2. Deposits with variable interest clauses.
1.11.2.1. Basic remuneration.
It shall be equivalent to:
i) The interest rate resulting from any of the following surveys that the BCRA prepares and publishes daily through the respective Communication "C":
a) Fixed-term deposits. b) Fixed-term deposits of 30 to 35 days term and of more than one million pesos or dollars ("BADLAR"). c) Accepted between private banks ("BAIBAR"). ii) Secured Overnight Financing Rate (SOFR), Sterling Overnight Index Average (SONIA), Tokyo Overnight Average Rate (TONAR), Swiss Average Rate Overnight (SARON) or Euro Short-Term Rate (ESTER), for deposits in US dollars, British pounds, yen, Swiss francs or euros, respectively. iii) Any of the rates mentioned in items i) and ii), plus the additional remuneration that may be agreed –point 1.11.2.2.–, or the fixed rate freely agreed upon, whichever is higher.

B.C.R.A. DEPOSITS AND TIME INVESTMENTS
Section 1. Fixed-term.
Version: 25th COMMUNICATION "A" 7432 Validity:
07/01/2022 Page 8

For these purposes, each entity may consider the average of the specified daily measurements from the period comprising the 2 to 5 immediate previous banking business days to the start date of each computation sub-period, which shall not be less than 30 days. This option shall remain fixed for the entire validity term of the deposit. Once the level is determined, the rate must remain unchanged for a term of no less than 30 days.

1.11.2.2. Additional remuneration.
The number of points –positive and negative– that depositary entities freely agree with depositors, which must remain unchanged during the total agreed term.

1.11.2.3. Record.
The body of the document instrumenting the deposit must clearly determine the basic parameter used (indicating, if applicable, if it is a general average or corresponds to a specific type of financial entity –private banks, public or non-bank financial entities–, currency –pesos or US dollars– as well as the term of the chosen survey), the days prior to each computation sub-period for which the average of the rates in each operation has been opted, the additional points that will govern it, as well as the duration of the agreed sub-periods.

1.11.3. Deposits of Acquisitive Value Units "UVA" and Housing Units "UVI".
According to the rate freely agreed upon.

1.11.4. Deposits with incentives or remuneration –total or partial– in goods or services.
When the incentives or remuneration in goods or services is partial, an additional incentive or remuneration may be freely agreed upon, which must remain unchanged during the total agreed term.

1.11.5. Settlement.
It must be made from the date of receipt of the deposit (or from the maturity of the previously agreed payment sub-period) until the day of maturity of the deposit (or of each sub-period).

B.C.R.A. DEPOSITS AND TIME INVESTMENTS
Section 1. Fixed-term.
Version: 16th COMMUNICATION "A" 7432 Validity:
07/01/2022 Page 9

2.8.2. Fixed prepayment rate.
If the option for early cancellation is exercised, the deposit shall accrue a fixed prepayment rate for the effectively elapsed term, which will be timely disseminated by the BCRA, based on the following expression:
TP = TPM x 0.85 where:
TP: fixed prepayment rate.
TPM: Monetary Policy Rate of the day prior to the date of constitution of the deposit, or the last one published, if applicable. This rate must be informed to the depositor and included in the record of the deposit.

2.8.3. Remuneration.
According to the rate freely agreed upon, not less than 1% nominal annual.

2.8.4. Advertising.
They must offer this type of deposit through all available means at the entity's disposal, both in-person and electronic –including web time placements provided for in point 3.11.– as provided in the regulations on "Communication by electronic means for environmental protection".

B.C.R.A. DEPOSITS AND TIME INVESTMENTS
Section 2. Time Investments.
Version: 6th COMMUNICATION "A" 7432 Validity:
07/01/2022 Page 11

DEPOSITS AND TIME INVESTMENTS
ORGANIZED TEXT ORIGIN NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch. Sec. Point Para. 1.
1.6.2.2. 1st "A" 1913 2nd S/Com. "A" 4809.
2nd to 4th "A" 3323
1.7.1. "A" 1653
"A" 1913
I 3.4.2.
2. 2nd
1.7.2. "A" 3043
1.8.1. "A" 1199 I 3.
1.8.2. "A" 1820 I 3.2. 2nd S/Com. "A" 3293, 3527, 3682
(pto. 10.), 3827 (pto. 9.) and
4140.
1.8.3. "A" 1820 I 3.2. 1st
1.8.4. "A" 1465 I 2. S/Com. "A" 4716 and "B" 9186.
i) "A" 2275 2. 1st ii) "A" 2275 2.1. According to Com. "A" 6327. iii) "A" 2275 2.1. According to Com. "A" 6327.
1.9. "A" 3660 S/Com. "A" 3827 (pto. 9.), 5945
and 6069.
1.9.1. "A" 3660 S/Com. "A" 3827 (pto. 9.), 5945
and 6069.
1.9.2. "A" 6069 1.
1.9. ults. "A" 5945 1. S/Com. "A" 6069.
1.10. "A" 4874 2.
1.11.1. "A" 1465
"A" 1653
"A" 1820
I
2.1.2.
3.1.1.2.
3.3.1.2.
3.4.
S/Com. "A" 3660, 5640, 5651,
5654, 5659, 5781, 5786, 5849,
5853, 6980, 7000, 7018, 7027,
7078, 7082, 7091, 7131, 7139,
7160, 7398 and 7432.
1.11.2.1. "A" 2188 2.1. 1st S/Com. "A" 2962 (pto. 2.1.),
3660, 4543, 4654, 5257 and
7278.
1.11.2.2. "A" 2188 2.1. 2nd S/Com. "A" 2962 (pto. 2.2.),
3660 and 4543.
1.11.2.3. "A" 2188 2.3. S/Com. "A" 2962 (pto. 2.2.),
3660, 4543 and 4654.
1.11.3. "A" 3660 S/Com. "A" 5945 and 6069.
1.11.4. "A" 4874 3.
1.11.5. 1st "A" 1199 I 5.3.2. S/Com. "A" 3660.
1.11.5.1. "A" 1465 I 2.1.2. 2nd S/Com. "A" 3660.
1.11.5.2. "A" 3660 S/Com. "A" 5945 and 6069.
1.11.6. "A" 3043 S/Com. "A" 6575 and 6587. Includes interpretative clarification.
1.11.6.1. "A" 1199 I 5.3.2. S/Com. "A" 3660 and 6575.
1.11.6.2. "A" 2482 2. S/Com. "A" 3660 and 6575.
1.11.6.3. "A" 4874 4.
1.12.1.1. "A" 1653
"A" 1820
"A" 2061
I 3.1.1.1.
3.3.
1.1.1.
S/Com. "A" 3485, 3527, 3660,
3682 (pto. 11.), 3827 (pto. 9.) and
4032.
1.12.1.2. "A" 1465
"A" 1603
"A" 2275
2.1.1.
5.
2.
S/Com. "A" 3660.

DEPOSITS AND TIME INVESTMENTS
ORGANIZED TEXT ORIGIN NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch. Sec. Point Para. 2.
2.2.2. "A" 2482 1.A)2. 4th
2.2.3. "A" 2482 1.A)5.
2.3.1. "A" 2482 1.B)1. 1st S/Com. "A" 4754 and 6579.
2.3.2. "A" 2482 1.B)1. 2nd S/Com. "A" 4754, 5149,
5945, 6125 and 6494.
2.3.3.1. "A" 2482
"A" 2482
1.B)2. 1st
4th
2.3.3.2. "A" 2482 1.B)2. 2nd S/Com. "A" 4754.
2.3.4. "A" 2482 1.B)5.
2.3.5.1. "A" 2482 1.B)7.
a)
2.3.5.2. "A" 2482 1.B)7.
b)
2.4.1. "A" 2482 1.C)1.
2.4.2.1. "A" 2482
"A" 2482
1.C)2. 1st
4th
2.4.2.2. "A" 2482 1.C)2. 2nd S/Com. "A" 4754.
2.4.3. "A" 2482 1.C)5.
2.4.4. "A" 2482 1.C)7.
2.5.1. "A" 2482 1.D)1. S/Com. "A" 3043, 4234,
4612, 5945, 6874 and "C"
40024.
2.5.2. "A" 7018 3. S/Com "A" 7029.
2.5.3.1. "A" 2482 1.D)4.
2.
S/Com. "A" 2617 and 4612.
2.5.3.2. "A" 2482 1.D)4.
1.
2.5.4. "A" 2482 1.D)5. S/Com. "A" 2617, 4234,
4612, 4742, 5671, 5740,
6232, 6846 and 7029.
2.5.5. "A" 2617 2. S/Com. "A" 4612.
2.5.6.1. "A" 2617 unique
1. S/Com. "A" 3043, 3185,
4234, 4612, 6091 and 6327.
2.5.6.2. "A" 2617 unique
2. S/Com. "A" 4234.
2.5.6.3. "A" 2617 unique
3. S/Com. "A" 3090, 3185 and
4234.
2.5.6.4. "A" 2617 unique
4.
2.5.6.5. "A" 2617 unique
6. S/Com. "A" 2961 (Annex),
4234, 4612, 5257 and 7278.
2.5.6.6. "A" 4612
2.5.6.7. "A" 4612 S/Com. "A" 5945 and 6069.
2.6. "A" 6069 2. S/Com. "A" 6170, 6494 and
6645.
2.7. "A" 6069 2.
2.8. "A" 6871 1. S/Com. "A" 7078, 7131,
7139, 7160 and 7432.

DEPOSITS AND TIME INVESTMENTS
ORGANIZED TEXT ORIGIN NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch. Sec. Point Para. 3.
3.1. "A" 3043
3.1.1. "A" 2885 1.
3.1.2. "A" 2885 2. 2.2.
3.1.3. "A" 2885 2. 2.3.
3.1.4. "A" 2885 2. 2.4.
3.1.5. "A" 2885 2. 2.5. and
2.6.
3.1.6. "A" 3043
3.2. "A" 1891 S/Com. "A" 1922, 3323
and 4875.
3.3.1. "A" 2252 1.1. S/Com. "A" 4754, 5117
and 5183.
3.3.2. "A" 2252 1.2. S/Com. "A" 5117.
3.3.3. "A" 2252 1.3. S/Com. "A" 5117.
3.3.4. "A" 2252 1.4. S/Com. "A" 2482 (pto.
3.), 3043, 5034, 5117 and
5841.
3.3.5. "A" 2252 1.5. S/Com. "A" 2482 (pto.
3.), 3043, 5034 and 5841.
3.3.6. "A" 2252 1.6.
3.4.1. 1st "A" 2530 1st
2nd "A" 2530 3rd and
4th
3.4.2. "A" 2530 2nd
3.5.1. "A" 1199 I 5.3.1.
3.5.2. "A" 1199 I 5.3.2.
3.5.3. "A" 1199 I 5.3.3.
3.5.4. "A" 3043
3.5.5. "A" 1199 I 5.3.4.
3.5.6. "A" 1199 I 5.3.4.1.
3.5.7. "A" 627 5.3.4.3. 1. S/Com. "A" 6419.
3.6. "A" 1199 I 5.1.
3.6.1. "A" 1199 I 5.1.1.
3.6.2. "A" 1199 I 5.1.2.
3.6.3. "A" 1199 I 5.1.3.
3.6.4. "A" 3043
3.6.5. "A" 1199 I 5.3.4.
3.6.6. "A" 1199 I 5.3.4.1.
5.3.4.3.
3.6.7. "A" 627 1.
3.7. "A" 1199 I 5.1.
3.7.1. "A" 1199 I 5.2.1. S/Com. "A" 3043.
3.7.2. "A" 1199 I 5.2.2. S/Com. "A" 3043, 4809
and 5482.
3.8. "B" 6572 S/Com. "A" 5388.
3.9. "A" 5588 S/Com. "A" 7337.
3.9.1. "A" 5588 S/Com. "A" 7337.
3.9.2. "A" 7337

DEPOSITS AND TIME INVESTMENTS
ORGANIZED TEXT ORIGIN NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch.
Sec.
Point Para.
3.
3.10. "A" 6069 2. S/Com. "A" 6266 and 6494.
3.11. "A" 6667
3.12. "A" 7260
4.
4.1. "A" 4360 1.
4.2. "A" 4360 1.
4.3. "A" 4360 1.
4.4. "A" 4360 1. S/Com. "A" 6305.
4.5. "A" 4360 1. S/Com. "A" 6305.
4.6. "A" 4360 1.
4.7. "A" 4360 1.
4.8. "A" 4360 1.
4.9. "A" 4360 1. S/Com. "A" 4874 and 6462.
5. 5.1. "A" 6022 6.
6. "A" 7278 2. S/Com. "A" 7381.

-IndexSection 6. Options.
6.1. Purchase of options.
6.2. Sale of options.
6.3. Options whose underlying asset is commodities.
Section 7. Operations with investment funds.
7.1. Denomination.
7.2. Restrictions.
7.3. Transparency.
7.4. Identification and tax status.
Section 8. Net LELIQ Position.
8.1. Net LELIQ Position of shorter term.
8.2. Net LELIQ Position of longer term.
8.3. Non-compliance.
Correlation table.
B.C.R.A.
ORGANIZED TEXT OF THE REGULATIONS ON "CASH AND TERM SETTLEMENT OPERATIONS, REPOS, GUARANTEES, OTHER DERIVATIVES AND INVESTMENT FUNDS" Version: 11th COMMUNICATION "A" 7432 Validity:
10/01/2022 Page 2

8.1. Net LELIQ Position of shorter term.
The net position that financial entities may maintain in BCRA Liquidity Notes (LELIQ) of shorter issuance term –including those effectively allocated to integrate the minimum cash requirement in pesos as provided in points 1.3.7.1. and 1.3.17. of the regulations on "Minimum Cash"– shall be up to an amount equivalent to the average of daily balances of fixed-term deposits in pesos from the non-financial private sector of the previous period.

8.2. Net LELIQ Position of longer term.
Financial entities that have a percentage of fixed-term deposits in pesos constituted by the non-financial private sector with respect to the total deposits in pesos by that sector –measured by monthly average of daily balances of the previous period, considering only capitals without interest or adjustments– equal to or greater than 20%, may maintain a positive net position of BCRA Liquidity Notes (LELIQ) of longer issuance term.

8.3. Non-compliance.
Excesses registered against the limits provided for in this section shall be subject to a charge, which shall be computed in accordance with point 3.1. of the regulations on "Minimum Cash", without prejudice to the application of Article 41 of the Financial Entities Law.

B.C.R.A.
CASH AND TERM SETTLEMENT OPERATIONS, REPOS,
GUARANTEES, OTHER DERIVATIVES AND INVESTMENT FUNDS
Section 8. Net LELIQ Position.
Version: 10th COMMUNICATION "A" 7432 Validity:
10/01/2022 Page 1

"CASH AND TERM SETTLEMENT OPERATIONS, REPOS,
GUARANTEES, OTHER DERIVATIVES AND INVESTMENT FUNDS" ORGANIZED TEXT ORIGIN NORM OBSERVATIONS Sec. Point Para. Com. Annex Ch. Sec. Point Para. 7.
7.2.2.2. "A" 2996 unique 2. 2nd According to Com. "A" 6472.
Includes interpretative clarification.
7.2.3. 1st "B" 6566 1. According to Com. "A" 2996
(Annex, point 3.).
2nd "B" 6609
7.3.1. "A" 3027
7.3.1.1. "A" 2996 unique 4.1. 1st
7.3.1.2. "A" 2996 unique 4.1. 2nd According to Com. "A" 3027.
7.3.2. "A" 2996 unique 4.2. According to Com. "A" 3027.
7.3.2.1. 1st "A" 2953 1. 3rd According to Com. "A" 2996
(point 4.2., para. 1st).
2nd "A" 2996 unique 4.2. 3rd
7.3.2.2. "A" 2953 1. 4th According to Com. "A" 2996
(point 4.2., para. 2nd).
7.4.1. "A" 3323 According to Com. "A" 5728.
7.4.2. "A" 3323 According to Com. "A" 4875
and 6472.
8.
8.1. "A" 7432 4.
8.2. "A" 7432 5.
8.3. "A" 6647 3.

Concept
Rates in %
Group “A” and
G-SIB not included in that group
Remaining entities
1.3.7. Demand and time deposits made by order of the Judiciary with funds originating from cases in which it intervenes, and their immobilized balances.
1.3.7.1. In pesos, according to their remaining term, being able to be integrated with LELIQ –those with the shortest issuance term– and/or NOBAC and/or national public titles in pesos –including those adjustable by the Reference Stabilization Coefficient (CER) and excluding those linked to the evolution of the US dollar– with a remaining term (at the time of subscription) a) not less than 180 days nor more than 450 calendar days acquired by primary subscription since 1.6.21 and b) not less than 120 days nor more than 450 calendar days acquired by primary subscription since 1.11.21 –which will continue to be counted until their maturity, while their integration is maintained– the requirement arising from term placements, except in the maximum proportion admitted for integration in “National Treasury Bonds in pesos at fixed rate maturing May 2022”.
i) Up to 29 days. 29 10 ii) From 30 to 59 days. 22 7 iii) From 60 to 89 days. 4 2 iv) 90 days or more. 0 0
1.3.7.2. In foreign currency. 15 15
1.3.8. Special deposits linked to the inflow of funds from abroad - Decree 616/05.
100 100
1.3.9. Term investments instrumented in non-transferable nominative certificates, in pesos, corresponding to holders from the public sector who have the right to exercise the early cancellation option in a period of less than 30 days counted from their constitution.
32 11
B.C.R.A. MINIMUM CASH
Section 1. Requirement.
Version: 25th COMMUNICATION “A” 7432 Validity:
10/01/2022 Page 6

Concept
Rates in %
Group “A” and
G-SIB not included in that group
Remaining entities
1.3.10. Time deposits and investments of “UVA” and “UVI” –including savings accounts and debt securities (including negotiable obligations) in “UVA” and “UVI”–, according to their remaining term.
i) Up to 29 days. 7 7 ii) From 30 to 59 days. 5 5 iii) From 60 to 89 days. 3 3 iv) 90 or more. 0 0
1.3.11. Severance Fund for Workers in the Construction Industry in UVA. 7 7
1.3.12. Time deposits and investments constituted in the name of minors with funds received gratuitously. 0 0
1.3.13. Demand deposits in pesos that constitute the assets of money market mutual funds (“money market”). 0 0
1.3.14. Deposits in pesos in accounts of payment service providers offering payment accounts (PSPOCP) in which their clients' funds are deposited.
100 100
1.3.15. In the case of operations in pesos, when the locality where the operating house where they are carried out is located, in accordance with what is established in the rules on “Localization Categorization for Financial Entities”, belongs to categories II to VI, the rates provided for demand placements will be reduced by 2 percentage points and for term placements by 1 percentage point up to a minimum of zero (including point 1.3.11.). In both cases, it does not include impositions in securities. Term impositions in pesos arranged remotely (e.g., via “home banking”, web fixed-term deposit, etc.) will receive the same treatment as those captured in categories II to VI.
1.3.16. Financial entities included in Group “A” and branches or subsidiaries of G-SIB not included in that group may integrate the peso requirement –for the period and daily– with “National Treasury Bonds in pesos at fixed rate maturing May 2022” up to:
a) 5 percentage points of the rates provided in points 1.3.1., 1.3.2.1., 1.3.3. and 1.3.9. and in subsections i) and ii) of points 1.3.5.1. and 1.3.7.1. B.C.R.A. MINIMUM CASH
Section 1. Requirement.
Version: 26th COMMUNICATION “A” 7432 Validity:
10/01/2022

b) 2 percentage points of the rates provided in subsection iii) of points 1.3.5.1. and 1.3.7.1.
1.3.17. Financial entities may integrate the peso requirement –for the period and daily– with Liquidity Letters of the BCRA (LELIQ) –those with the shortest issuance term– and/or Notes of the BCRA (NOBAC) and/or national public titles in pesos –including those adjustable by the CER and excluding those linked to the evolution of the US dollar– with a remaining term (at the time of subscription): a) not less than 180 days nor more than 450 calendar days acquired by primary subscription since 1.6.21 and b) not less than 120 days nor more than 450 calendar days acquired by primary subscription since 1.11.21 –which will continue to be counted until their maturity, while their integration is maintained– in accordance with the following:
1.3.17.1. Fixed-term deposits and term investments made by holders from the non-financial private and non-financial public sectors, and those provided in point 1.3.11.: the entire requirement, except for the maximum proportion admitted for integration in “National Treasury Bonds in pesos at fixed rate” (point 1.3.16.).
1.3.17.2. Term investments with variable remuneration made by clients with agricultural activity in accordance with point 2.5.2.2. of the rules on “Time deposits and investments”: the entire requirement.
1.3.17.3. Other placements.
i. Entities included in Group “A” and branches or subsidiaries of G-SIB not included in that group:
a) up to 16 percentage points of the rate provided in subsection i) of point 1.3.5.1.; b) up to 13 percentage points of the rate provided in subsection ii) of point 1.3.5.1.; c) up to 3 percentage points of the rates provided in subsections i) to iii) of point 1.3.10.; and d) up to 2 percentage points of the rate provided in subsection iii) of point 1.3.5.1.
ii. Entities not included in the preceding subsection:
a) up to 3 percentage points of the rates provided in subsections i) and ii) of point 1.3.5.1., and in subsections i) to iii) of point 1.3.10.; and b) up to 2 percentage points of the rate provided in subsection iii) of point 1.3.5.1. To be admitted, integration with “National Treasury Bonds in pesos at fixed rate maturing May 2022”, national public titles in pesos –including those adjustable by the CER and excluding those linked to the evolution of the US dollar–, LELIQ and/or NOBAC as provided in points 1.3.7.1., 1.3.16. and 1.3.17., must be valued at market prices –regardless of the valuation criterion for their accounting registration– and be deposited in Sub-account 60 minimum cash enabled in the Central Registry and Settlement of Public Debt, Monetary Regulation and Financial Trust Instruments (CRyL). B.C.R.A. MINIMUM CASH
Section 1. Requirement.
Version: 28th COMMUNICATION “A” 7432 Validity:
10/01/2022 Page 8

1.5. Decrease in the average requirement in pesos.
1.5.1. Based on certain financings.
The requirement will be reduced in accordance with the participation in total financings to the non-financial private sector in pesos in the entity of financings to micro, small and medium-sized enterprises (SMEs) in the same currency –in accordance with the definition contained in the rules on “Determination of the condition of micro, small or medium-sized enterprise”– considering that grouping at the time of granting, according to the following table:
Participation of SME financings regarding total financings to the non-financial private sector, in the entity. In % Deduction (on the total of concepts included in pesos). In % Less than 4 0.00 Between 4 and less than 6 1.00 Between 6 and less than 8 1.25 Between 8 and less than 10 1.50 Between 10 and less than 12 1.75 Between 12 and less than 14 2.00 Between 14 and less than 16 2.25 Between 16 and less than 18 2.50 Between 18 and less than 20 2.75 Between 20 and less than 22 3.00 Between 22 and less than 24 3.25 Between 24 and less than 26 3.50 26 or more 3.75 For the purposes of computing SME financings, to determine the percentage of participation, it will be taken into account if they meet that condition at the time the assistance is granted, considering all active financings. If the borrower ceases to meet the SME condition, the financings granted up to that moment will be computed. The moving average balance at the end of the last 12 months prior to the low report of financings in pesos (Loans and Credits for Financial Leasing) granted to SMEs regarding the total of those financings to the non-financial private sector of the entity will be considered.
1.5.2. Based on the granting of financings within the framework of the “AHORA 12” Program.
For those financial entities adhering to that program, the requirement will be reduced by an amount equivalent to 35% of the sum of financings in pesos granted up to 30.9.2020 and to 50% for financings in pesos granted from 1.10.2020, in both cases:
B.C.R.A.
MINIMUM CASH
Section 1. Requirement.
Version: 25th COMMUNICATION “A” 7432 Validity:
10/01/2022 Page 11

1.5.6. Special within the framework of Decree No. 332/2020 (and amendments).
The requirement will be reduced by an amount equivalent to:
i) 60% of the sum of “Zero Rate Credits”, “Subsidized Rate Credits for Companies” and “Zero Rate Culture Credits” agreed upon within the framework of Decree No. 332/2020 (and amendments) and disbursed up to 5.11.2020; ii) 24% of the “Subsidized Rate Credits for Companies” disbursed from 6.11.2020 at an annual nominal rate of 27%; iii) 7% of the “Subsidized Rate Credits for Companies” disbursed from 6.11.2020 at an annual nominal rate of 33%. Their monthly average balance in the period prior to the computation period of the requirement will be considered.
1.5.7. Financings to SMEs not reported in the “Central Register of Debtors of the Financial System”.
The requirement will be reduced by an amount equivalent to 40% of financings in pesos to SMEs –in accordance with the definition contained in the rules on “Determination of the condition of micro, small or medium-sized enterprise”– that are agreed at an annual nominal interest rate of up to 24%, measured by the monthly average of daily balances of the previous month, provided that such SMEs are not reported in the “Central Register of Debtors of the Financial System” administered by the BCRA. Financings granted to other financial entities and to non-financial credit providers –registered in the corresponding registries authorized by the SEFyC– may be included in that sum, provided that: i) within 3 business days from the date they receive the assistance those entities allocate the funds to grant financings to SMEs under the conditions of this point and ii) they have a special external audit report –registered in the “Register of Auditors” of the SEFyC–, which complies with what is provided in point 1.5.4.
1.5.8. Financings included in the “Financing Line for Productive Investment of SMEs”.
The requirement will be reduced by an amount equivalent to 14% of the financings provided in point 4.1. of the “Financing Line for Productive Investment of SMEs” that are agreed at an annual nominal interest rate of up to 30%, measured by the monthly average of daily balances of the previous month. That requirement will be reduced by an amount equivalent to 30% for the aforementioned financings that are agreed from 10.1.22.
1.5.9. Special for financial entities that have implemented remote and in-person opening of the “Universal Free Account (CGU)” provided in point 3.11. of the rules on “Savings deposits, salary account and special accounts”.
The requirement will be reduced by the amount resulting from the sum of the following:
B.C.R.A. MINIMUM CASH
Section 1. Requirement.
Version: 14th COMMUNICATION “A” 7432 Validity:
10/01/2022 Page 15

ORDERED TEXT ORIGIN OF THE PROVISIONS OBSERVATIONS Sec. Point Para. Com. Annex Sec. Point Para 1.
1.1. “A” 3274 II 1. 1.1.
1.1.1. “A” 3274 II 1. 1.1.1. S/Com. “A” 3498.
1.1.2. “A” 3274 II 1. 1.1.2. S/Com. “A” 3597, 4815, 6634 (includes interpretative clarification),
6706, 6719, 6745, 7318 and “B” 9186.
1.1.3. “A” 3274 II 1. 1.1.3. S/Com. “A” 3498, 3905, 4473, 5945
and 6069.
1.2. “A” 3274 II 1. 1.2. S/Com. “A” 3304, 3498, 3597,
4449, 4716 (includes interpretative clarification), 4815, 5471, 6288, 6327, 6349, 6719, 7046 and “B” 9186.
1.3. “A” 3274 II 1. 1.3. S/Com. “A” 5356, 5980, 6209, 6616
and 7019.
1.3.1. “A” 3274 II 1. 1.3.1. S/Com. “A” 3338, 3417, 3498,
3597, 3917, 3967, 4032, 4051,
4147, 4276, 4449, 4473, 4509,
4549, 4602, 4712, 5108, 5356,
5980, 6195, 6526, 6532 and 6616.
1.3.2. “A” 3274 II 1. 1.3.2.,
1.3.3. and
1.3.4.
S/Com. “A” 3338, 3399, 3417,
3498, 3597, 3824, 3917, 3967,
4032, 4051, 4147, 4179, 4276,
4449, 4473, 4509, 4549, 4602,
4754, 4809, 4851, 5007, 5091,
5164, 5234, 5356, 5534, 5555,
5569, 5873, 5893, 5980, 6148,
6195, 6341, 6526, 6532 and 6616.
1.3.3. “A” 3274 II 1. 1.3.5. S/Com. “A” 3338, 3417, 3498,
3597, 3917, 3967, 4032, 4051,
4147, 4276, 4449, 4509, 4549,
5356, 5980, 6195, 6526, 6532 and
6616.
1.3.4. “A” 3274 II 1. 1.3.7. S/Com. “A” 5356, 6616 and 6350.
1.3.5. “A” 3498 unique 1. 1.3.8. and
1.3.12.
S/Com. “A” 3506 (pt. 2.), 3549,
3732, 3824, 3905, 3917, 3925,
3967, 4032, 4140, 4179, 4276,
4360 (pt. 3.), 4449, 4549, 4602,
4754, 4851, 5356, 5534, 5555,
5569, 5873, 5893, 5945, 5980,
6195, 6519, 6526, 6532, 6616,
6728 and 6978.
1.3.6. “A” 3498 unique 1. 1.3.11. S/Com. “A” 3597, 3732, 4032,
5356, 6595, 6616 and 6776.
1.3.7. “A” 3549 1. S/Com. “A” 4179, 4388, 4549,
4851, 5356, 5534, 5555, 5569,
5873, 5893, 5980, 6195, 6526,
6532, 6616, 6706, 6728, 6740,
6817, 7016, 7290, 7295, 7383 and
7432. Includes regulatory clarification.
B.C.R.A. ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “MINIMUM CASH”

MINIMUM CASH
ORDERED TEXT ORIGIN OF THE PROVISIONS OBSERVATIONS Sec. Point Para. Com. Annex Sec. Point Para. 1.
1.3.8. “A” 4360 2. According to Com. “A” 5356 and 6616.
1.3.9. “A” 4754 6. According to Com. “A” 5356, 5980,
6195, 6526, 6532, 6616 and 6728.
1.3.10. “A” 5945 4. According to Com. “A” 6069, 6204 and
6616.
1.3.11. “A” 6341 According to Com. “A” 6616.
1.3.12. “A” 6069 4. According to Com. “A” 6616.
1.3.13. “A” 6992
1.3.14. “A” 7429
1.3.15. “A” 5356 1. According to Com. “A” 6616 and 6706.
1.3.16. “A” 6526 According to Com. “A” 6532, 6550,
6587, 6616, 6706, 7016 and 7290.
1.3.17. “A” 6550 According to Com. “A” 6556, 6559,
6575, 6587, 6616, 6706, 6738,
6740, 6817, 7018, 7029, 7047,
7092, 7290, 7295, 7383 and 7432.
Includes regulatory clarification.
1.3. Last “A” 6526 According to Com. “A” 6532, 6556,
6569, 6575, 6587, 6616, 6628,
6740, 7016, 7290 and 7295. Includes regulatory clarification.
1.4. “A” 3905 3. According to Com. “A” 4179, 4449,
4473, 5671, 5740, 6232, 6349,
6719, 6871 and 7046.
1.5. “A” 5356 2. According to Com. “A” 5471.
1.5.1. “A” 5356 2. According to Com. “A” 5471, 5623,
6531, 6703, 6705 and 7432.
1.5.2. “A” 5631 1. According to Com. “A” 5638, 6217,
6531, 6857, 6910, 6937, 7114 and
7334.
1.5.3. “A” 6740 1. According to Com. “A” 7254.
1.5.4. “A” 6858 1. According to Com. “A” 6901 and 6907.
1.5.5. “A” 6937 2. According to Com. “A” 6943, 7054,
7140 and 7155.
1.5.6. “A” 6993 2. According to Com. “A” 7082 and 7157.
1.5.7. “A” 7006 2.
1.5.8. “A” 7161 5. According to Com. “A” 7432.
1.5.9. “A” 7254 1. According to Com. “A” 7287. Includes
regulatory clarification.
1.5.10. “A” 7342 2.
1.5. last “A” 6858 2. According to Com. “A” 6965, 6993,
7006, 7140, 7155, 7161, 7254 and
7342. i) “A” 7132 According to Com. “A” 7140. ii) “A” 7140 2. According to Com. “A” 7157.
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.

5.1. Maximum interest rate.
5.1.1. Destinations of point 4.1.: 30% fixed annual nominal.
5.1.2. Destinations of points 4.2. and 4.3.: 41% fixed annual nominal.
If they are credits with third-party repayments, the gross nominal annual rate of the repayment to the financial entity must be considered, unless they are bonuses or subsidies granted by the non-financial public sector.
5.2. Currency and terms.
Financings under point 4.1. must be denominated in pesos and have –at the time of disbursement– an average term equal to or greater than 24 months, weighting capital maturities for this purpose, with the total term not being less than 36 months. Operations under point 4.2. must also be in pesos and will have no minimum term. When they are financings granted from 1.10.21, and the funds are destined to activities included within the services of “hotels and restaurants” and “entertainment, cultural and sports” –according to National Classification of Economic Activities 2004–, they must have a grace period of 6 months. For the purposes of complying with the 2021/2022 quota, these financings will be counted at 120% of their value. B.C.R.A. FINANCING LINE FOR PRODUCTIVE INVESTMENT OF SMEs
Section 5. Terms and conditions of financings.
Version: 5th COMMUNICATION “A” 7432 Validity:
10/01/2022 Page 1

ORDERED TEXT ORIGIN OF THE PROVISIONS OBSERVATIONS Sec. Point Para. Com. Annex Sec. Point Para.
1. “A” 7140 unique 1. According to Com. “A” 7161, 7240 and
7369.
2.
2.1. “A” 7140 unique 2.
2.2. “A” 7240 1.
2.3. “A” 7369 1.
3.
3.1. “A” 7140 unique 3.1. According to Com. “A” 7161, 7240 and
7369.
3.2.1. “A” 7140 unique 3.2.
3.2.2. “A” 7161 4. According to Com. “A” 7240 and 7369.
3.2.3. “A” 7197 According to Com. “A” 7227 and 7240.
3.2.4. “A” 7369 4. Includes interpretative clarification.
4.
4.1. “A” 7140 unique 4.1.
4.1.1. “A” 7140 unique 4.1. According to Com. “A” 7369.
4.1.2. “A” 7329
4.1.3. “A” 7373 1.
4.1. last “A” 7140 unique 4.1.
4.2. “A” 7140 unique 4.2. According to Com. “A” 7155 and 7373.
Includes interpretative clarification.
4.3. “A” 7140 unique 4.3.
4.3.1. “A” 7140 unique 4.3.1.
4.3.2. “A” 7140 unique 4.3.2.
4.3.3. “A” 7140 unique 4.3.3.
4.3.4. “A” 7161 3.
4.3. last “A” 7140 unique 4.3. According to Com. “A” 7161.
5. 5.1. “A” 7140 unique 5.1. According to Com. “A” 7173, 7174 and
7432.
5.2. “A” 7140 unique 5.2. According to Com. “A” 7369.
6.
6.1. “A” 7140 unique 6.1.
6.2. “A” 7140 unique 6.2.
6.3. “A” 7140 unique 6.3.
6.4. “A” 7140 unique 6.4.
6.5. “A” 7140 unique 6.5.
7.
7.1. “A” 7140 unique 7.1.
7.2. “A” 7140 unique 7.2.
7.3. “A” 7240 2.
8. “A” 7140 unique 8.
9. “A” 7140 unique 9.
10. “A” 7140 unique 10.
11. 11.1. “A” 7140 unique 11.1. According to Com. “A” 7240 and 7369.
11.2. “A” 7140 unique 11.2.
B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “FINANCING LINE FOR PRODUCTIVE INVESTMENT OF SMEs”

2.1. Compensatory interest.
2.1.1. Financial entities.
It may not exceed the annual nominal rate of 49% when the amount financed by this concept, considering each credit card account, does not exceed $ 200,000. When the financed amount exceeds $ 200,000, only the limit established in Article 16 of Law 25.065 on Credit Cards will apply to the excess amount. For the purposes of applying the limit established in Article 16 of Law 25.065 on Credit Cards, the compensatory interest rate may not exceed by more than 25% that resulting from the average of the interest rates that the entity has applied, during the immediate previous month, weighted by the corresponding amount of unsecured personal loans granted in the same period. Credit lines instituted within the framework of promotion programs and/or social aid measures and which additionally have an interest rate that does not exceed the survey rate published by the Central Bank of the Argentine Republic (BCRA) for deposits of more than one million pesos for the term of 30 to 35 days, of the third immediate previous month, according to the type of financial entity that corresponds (public or private), increased based on the minimum cash requirement, may be excluded from the calculation base to be averaged. Financial entities that estimate falling under the previously described circumstance must request prior authorization from the BCRA. The Superintendence of Financial and Exchange Entities (SEFyC) will analyze the credit lines subject to the presentation in accordance with the guidelines indicated, applying a restrictive criterion. Entities belonging to group C are subject to what is provided in point 7.2.
2.1.2. Other issuing companies.
The rate may not exceed by more than 25% the system-wide average rate for unsecured personal loan operations published monthly by the BCRA, elaborated based on information corresponding to the second previous month taking into consideration what is provided by the preceding point.
2.1.3. Calculation method.
2.1.3.1. The rates will be applied to the financed balances between the due date of the current monthly statement and the date of the first previous monthly statement where the outstanding balance arose.
2.1.3.2. Between the date of cash withdrawal and the due date of payment of the monthly statement.
B.C.R.A. INTEREST RATES IN CREDIT OPERATIONS
Section 2. Financings linked to credit cards.
Version: 14th COMMUNICATION “A” 7432 Validity:
07/01/2022 Page 1

ORDERED TEXT ORIGIN OF THE PROVISIONS OBSERVATIONS Sec. Point Para. Com. Annex Cap. Sec. Point Para. 1.
1.1. 1st “A” 49 Unique II 1.1. 1st S/Com. “A” 2390 and 5482.
2nd “A” 3052 S/Com. “A” 5590 and 5853.
1.2.1. “A” 49 Unique II 1.1. 2nd S/Com. “A” 2390.
1.2.2. “A” 49 Unique II 1.1. 3rd S/Com. “A” 2390 and 6846.
1.3. “A” 49 Unique II 1.2. S/Com. “A” 6541.
1.4. “A” 49 Unique II 1.3. S/Com. “A” 2689.
1.5.1. “A” 49 Unique II 1.4.
1.5.2. “A” 2385
“A” 2586
2.
2.
1st
1st
1.6.1. 1st “A” 3044
2nd “A” 476 1. 2nd
1.6.2. “A” 476 3.
1.6.3. “A” 476 4.
1.6. Last. “A” 3052
1.7. “A” 49 Unique II 1.5. S/Com. “A” 476, 3052 and 5482.
2.
2.1.1. 1st “A” 6911 1. S/Com. “A” 6949, 6964, 7198 and
7432.
2nd “A” 7198
3rd Law 25.065 (art. 16 para. 1st).
S/Com. “A” 3123, 3266, 4003,
5323, 6917 and 7198.
4th “A” 5323 6. S/Com. “A” 5477.
5th “A” 5323 6.
6th “A” 7427 Includes regulatory clarification.
2.1.2. Law 25.065 (art. 16 para. 2nd).
S/Com. “A” 3123, 4003, 5150,
5323, 6258, 6664 and 6912.
2.1.3. Law 25.065 (art. 20).
2.2.1. Law 25.065 (art. 18).
2.2.2. 1st Law 25.065 (art. 21).
2nd Law 25.065 (art. 18 para. 2nd).
2.3. “A” 5500
2.4. Law 25.065 (art. 16 last para.).
S/Com. “A” 5905 and 6911.
2.5. “A” 5849 1.
2.6. “A” 3052
3.
3.1. “A” 49 Unique II 2. S/Com. “A” 2689.
3.2. 1st “A” 49 Unique II 2.1. 1st S/Com. “A” 2689.
Last. “A” 5482 S/Com. “A” 6474 and 6541.
3.2.1. “A” 49 Unique II 2.1. 1st S/Com. “A” 2689 and 6541.
3.2.2. “A” 3052 S/Com. “A” 6541.
3.2.3. “A” 49 Unique II 2.1. 2nd S/Com. “A” 2689.
3.2.4. “A” 49 Unique II 2.1. 1st S/Com. “A” 2689, 5482 and 6474.
3.3.1. “A” 49 Unique II 2.1.1. S/Com. “A” 2689 and “B” 8858.
3.3.2. “A” 49 Unique II 2.1.2. S/Com. “A” 2689 and “B” 8858.
B.C.R.A. ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “INTEREST RATES IN CREDIT OPERATIONS”

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