Circular Monetary Regulations - REMON 1 - 206: Operations at a Rate Regulated by the Central Bank - Procedural Rules

CENTRAL BANK OF THE ARGENTINE REPUBLIC

COMMUNICATION “A” 625
12/04/85

TO THE FINANCIAL INSTITUTIONS:

Ref.: Circular MONETARY REGULATIONS - REMON - 1 - 206. Operations at a rate regulated by the Central Bank. Procedural rules.

We address you to forward the model of Form 4023 and the instructions for its completion, to be used for the determination of the unavailable deposit referred to in the provisions made known by Communication “A” 617 regarding operations not adjustable to a regulated rate.

We clarify that the fund movements established in said form will be made effective simultaneously with those arising from the application of the new provisions on operations adjustable by price indices (“Communication “A” 611).

We greet you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Alfredo A. Besio
Departmental Submanager
Manager of Standards for
Financial Institutions a/c

Néstor J. Taró
Departmental Manager
C/f General Submanager

Annex

MODEL

CENTRAL BANK OF THE ARGENTINE REPUBLIC
Financial Institutions Control Management
OPERATIONS NOT ADJUSTABLE TO RATE
REGULATED BY THE CENTRAL BANK
CODE

Institution:
1 April 1985

TABLE A DETERMINATION OF THE UNAVAILABLE DEPOSIT AS OF 1.4.85

CONCEPT	Amounts in thousands of Argentine pesos
1. Deposits and other obligations subject to fractional reserve as of 31.3.85
2. Minimum cash requirements as of 31.3.85 ( % of line 1.)
3. Lending capacity as of 31.3.85 (line 1. - line 2.)
4. New minimum cash requirement (line 5., column 3. of Table B)
5. New lending capacity (line 1. - line 4.)
6. Difference in lending capacities (line 5. - line 3.) (+)
	Amount in Argentine pesos
7. Adjustments and interest on deposits, pending payment
8. Unavailable deposit as of 1.4.85 (line 6. X 1,000 + line 7.)
9. Balance to be offset by deductions from the adjustments and interest of the Consolidated Loan

[*] The supply of this form must be requested through Form 337

TABLE B	NEW MINIMUM CASH REQUIREMENT AS OF 31.3.85
	(Amounts in thousands of Argentine pesos)
CONCEPT	Balances as of 31.3.85	Rates %	Requirement (Column 1 x column 2 / 100)
	1	2	3
1. Common savings account
2. Special savings account
3. Non-adjustable fixed term (sum of lines 3.1 to 3.4)
3.1. From 7 to 14 days
3.2. From 15 to 22 days
3.3. From 23 to 29 days
3.4. From 30 days or more
4. Current accounts and other deposits and obligations for financial intermediation
5. Total (sum of lines 1. to 4.)
6. Average minimum cash rate [(line 5., column 3 / line 5., column 1) x 100 ]

OBSERVATIONS:

Place and Date:

ACCOUNTING AREA (*)
GENERAL MANAGER
Signature and printed name
Signature and printed name

[*] - To be signed by the highest-ranking officer

[*] The provision of this form must be requested using Form 337

B.C.R.A.
INSTRUCTIONS FOR THE COMPLETION OF
FORM 4023 “NON-ADJUSTABLE OPERATIONS
AT A RATE REGULATED BY THE CENTRAL BANK”
Annex to
Com. “A” 625

1. General instructions

To determine the unavailable deposit as of 1.4.85, entities shall use Form 4023, which must be submitted no later than 19.4.85

They must also attach a Form 3000 A as of 31.3.85, completed in accordance with the rules in force at that date, except with regard to column 2, in which the balances as of 31.3.85 of the items subject to fractional reserve requirements must be recorded.

Both forms shall be completed in triplicate. The original and the duplicate shall be submitted to the Financial Institutions Control Management, and the triplicate shall be kept on file at the entity's head office.

The fund movements referred to in Table A of Form 4023 shall be made with value as of 1.4.85.

The amounts in lines 1. to 6. of Table A and those in Table B of Form 4023 shall be recorded in thousands of Argentine pesos, without decimals, discarding fractions less than 500 and rounding fractions of 500 or more up to 1.000.

Form 4023 is subject to the information submission regime (Circular RUNOR - 1, Chapter II, point 1.).

2. Table A

Line 1.

The sum of lines 1., 2. and 3. of column 2 of the Form 3000 A required in the preceding point shall be recorded.

Line 2.

The minimum cash requirement as of 31.3.85 resulting from the sum of lines 1., 2. and 3. of column 7 of the aforementioned Form 3000 A shall be included, reduced by the amount of the release used in accordance with the provisions issued by Communication “A” 600. The percentage to be included in this line shall be obtained by multiplying by 100 the quotient between the amount of line 2. and that of line 1.

Line 7.

The balance as of 31.3.85 of the account “Other credits for financial intermediation - In Argentine pesos - Residents in the country - Capital - Central Bank of the Argentine Republic - Monetary Regulation Account receivable not computable for minimum cash” (Code 141146) shall be reported, corresponding to the adjustments and interest on deposits subject to fractional reserve requirements, pending payment or made available as of that date. A credit note (Form 3030) shall be attached for this amount.

Line 8.

A debit note (Form 3030) shall be attached for the resulting amount.

Line 9.

The amount in favor of the entity determined in line 6. of Table A of Form 3760 for March 1985 shall be reported. A credit note (Form 3030) shall be attached for this amount.

3. Table B.

In Column 2 (Lines 1. to 4.) the minimum cash rates referred to in point 1. of Annex I to Communication “A” 617 shall be included.

Line 4.

The other deposits and obligations subject to fractional reserve requirements shall be included.

Line 5.

The amount determined in column 1 must match that declared in line 1. of Table A, while that in column 3 must be equal to that recorded in line 4. of Table A.

4. Observations

In this table, entities shall make the clarifications they deem pertinent and provide all additional information requested by the CENTRAL BANK.