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Rule · BCRA · 10 Mar 2022 · A 7470

Circular LISOL 1-971: Minimum Capital Requirements for Financial Entities. Adjustments.

capital

The document establishes minimum capital requirements for financial entities in Argentina, effective April 1, 2022, mandating 500 million pesos for banks and 230 million pesos for other financial entities (excluding Cooperative Credit Unions). Entities operating as of April 1, 2022, must comply with these standards by March 31, 2024, adhering to interim thresholds of 170 million pesos (banks) and 80 million pesos (others) from April 1, 2022, to March 31, 2023, and 300 million pesos (banks) and 140 million pesos (others) from April 1, 2023, to March 31, 2024. Non-compliant entities must submit a compliance program to the Superintendence of Financial and Exchange Entities within 20 days of identifying a deficiency, with full compliance required no later than June 30, 2024.

ArgentinaBanco Central de la Republica Argentina

"Las Malvinas son argentinas"
"Las Malvinas son argentinas"
.
COMMUNICATION “A” 7470 10/03/2022
TO FINANCIAL ENTITIES:
Ref.: Circular
LISOL 1-971:
Minimum Capital of Financial Entities.
Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution adopted the resolution that, in its relevant part, establishes:

“1. Order, with effect from 1.4.22, that the basic minimum capital requirement that financial entities must observe, according to what is provided in points 1.1. and 1.2. of the regulations on “Minimum Capital of Financial Entities”, shall be the following:

Banks Remaining financial entities
(except Cooperative Credit Unions)

  • In millions of pesos 500 230
  1. Establish that financial entities in operation as of 1.4.22 must observe the basic capital requirement provided in the table of point 1. of this communication from 31.3.24. Until that date, it will be necessary for such operating entities to apply the requirements arising from the following table, according to the period in question:

Period Banks Remaining financial entities
(except Cooperative Credit Unions)

  • In millions of pesos
    1.4.22 to 31.3.23 170 80
    1.4.23 to 30.3.24 300 140
  1. Order that financial entities in operation as of 1.4.22 that do not comply with the integration of the basic capital requirement as provided in this communication, must submit to the Superintendence of Financial and Exchange Entities a compliance program within the 20 calendar days following the close of the period in which such deficiency is registered, which must not exceed 30.6.24 to comply with the basic requirement.”

Likewise, we inform you that we will subsequently send you the sheets that, in replacement of those previously provided, it will be necessary to incorporate into the referenced regulations.

-2-
We salute you attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
María N. Prieto Mazzucco Darío C. Stefanelli
Submanager of Issuance of Norms
Main Manager of Issuance and
Normative Applications

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