Circular Monetary Regulations - REMON 1 - 246. Applicable Rules for Deposits with Interest Rates Not Regulated by the Central Bank. Complementary Provisions.

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 712 15/07/85
TO FINANCIAL ENTITIES
Ref.: Circular MONETARY REGULATIONS REMON - 1 - 246. Applicable rules for deposits with interest rates not regulated by the Central Bank. Complementary provisions

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

“ - Fix, starting from the month of July 1985, the proportions for the determination of the “basic quota” referred to in point 2. of Annex III to Communication “A” 613, modified by Communication “A” 694, as indicated below:

Concept
Financial entities national public, private local with foreign capital and local branches of foreign entities Cooperative Banks and Credit Unions Rest of Entities

• Deposits and other
  obligations subject to fractional reserve
  (point 1.2. of formula 3000)
  35.5% 45% 40.5%

Computable patrimonial liability 20.5% 32.5% 26.5%

• Establish, starting from the month of July 1985, at 8.5% the minimum cash rate on fixed-term, non-transferable deposits with interest rates not regulated by the Central Bank.

• Establish that financial entities must maintain invested in participation in public securities in the portfolio of the Central Bank of the Argentine Republic at fixed yield, measured by the average monthly balance of daily effective values, not less than the amount equivalent to that resulting from applying the proportion that is fixed on the average monthly balance of daily deposits captured at non-regulated interest rates.

• For the month of July 1985, the proportion referred to in the previous paragraph is 15%.”

We salute you very attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Hipólito G. Aparicio
Manager of
Monetary Programming
Elías Salama
Deputy General Manager