Circular Monetary Regulations - REMON 1 - 31. Determination of the "Basic" Loan (Communication "A" 144) — BCRA — AR

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
COMUNICACIÓN "A" 157 12/07/82
TO FINANCIAL ENTITIES:
Ref.: Circular MONETARY REGULATIONS - REMON 1- 31. Determination of the "Basic" loan (Communication "A" 144).
We address you to inform you that this Institution has adopted the following resolution:

"1º - The amount of the "Basic" loan referred to in Title I, point 2. of Circular REMON - 1 - 22 will be adjusted by applying the following procedure:

It will be increased:
1.1. By the amount of deposits and other obligations in pesos registered as of June 30, 1982, subject to the 100% minimum cash rate and by deposits of financial entities in commercial banks not subject to reserve requirements.
1.2. By the amount of adjustments and accrued interest payable as of June 30, 1982, corresponding to deposits and other obligations in pesos computable for the determination of this "Basic" loan.
1.3. By the balance owed to the Central Bank of the Republic of Argentina as of June 30, 1982, in concept of rediscounts and advances corresponding to the regimes established in Circular REMON - 1, Chapter IV, points 1. and 2.
To this effect, the amount will be obtained by summing the capitals credited in the current account that entities maintain at this Institution and the pertinent interest accrued up to June 30, 1982, inclusive, prorated for the time elapsed since the granting of the resources or since the date of the last interest service payment - as of June 30, 1982 -, using the linear distribution method.
Interbank loans will be computed, both those taken and those granted, at the amounts in effect as of June 30, 1982, in concept of capital and accrued interest as of that date.

2º - The Central Bank will proceed to cancel with value as of July 1, 1982 - through the current account opened at this Institution - the rediscounts and advances corresponding to the regimes provided for in Circular REMON - 1, Chapter IV, point 1. and 2. in effect as of June 30, 1982, for the amount owed in concept of capital plus accrued interest, prorated for the time elapsed using the linear distribution method.

3º - From July 1, 1982, the adjustments and accrued interest payable as of June 30, 1982, corresponding to deposits and other obligations in pesos computable for the determination of the "Basic" loan, will observe a 100% rate for minimum cash."

Attached we send you Form No. 3734 "Determination of the Basic Loan" which, completed according to the attached instructions, must be submitted to this Institution by the 19th of the current month. We salute you very attentively.

BANCO CENTRAL DE LA REPÚBLICA
Néstor J. Taró
Manager of Standards for
Financial Entities
Daniel E. de Pablo
General Deputy Manager

ANNEXES

B.C.R.A. PROCEDURAL NORMS Annex I to
Comm. “A” 157

Financial entities will complete Form No. 3734 "Determination of the Basic Loan" in triplicate. The original and the duplicate will be sent to the Central Bank by July 19, 1982, and the triplicate will be archived at the headquarters of each entity.
Amounts will be recorded in millions of pesos without decimals, discarding fractions less than 500,000 and increasing to one million fractions of 500,000 or more. This rule will not apply to the information on the "Basic" loan, which will be recorded in pesos.
In rows 1.1 and 1.2, balances registered as of June 30, 1982, will be noted, computing the items provided for in Circular REMON - 1, Chapter I.
In row 2, commercial banks will register the balances of deposit accounts of other financial entities.
To determine the amounts to be entered in rows 3, 4, 5, 8.1 and 8.2, the provisions established in this communication will be taken into account.
Row 7 will be completed with balances registered as of June 30, 1982, in items computable for the integration of minimum cash, as informed in Circular REMON - 1, Chapter I.
For the amount of the basic loan (row 9), Form 3030 will be sent for credit in the current account opened at the Central Bank, indicating as concept "Basic Loan - REMON - 1 - 22".

ANNEX II
BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Rediscount Sector
DETERMINATION OF THE BASIC LOAN
Balances as of 6/30/82
(Circular REMON 1 - 22)

CODE
ENTITY:
Concept Amount in millions of pesos

Items subject to minimum cash requirements in pesos.
1.1. Subject to the 100% rate.
1.2. Subject to the 13.5% rate
Other items not subject to minimum cash requirements.
Adjustments and accrued interest payable for deposits and other obligations for
Financial Intermediation in pesos subject to minimum cash
Rediscount for illiquidity situations.
4.1. Up to 7 days (REMON 1 - Ch. IV - Point 1.1.)
4.2. Up to 30 days (REMON 1 - Ch. IV - Point 1.2.)
Advance to attend situations arising from the temporary reduction of
deposits (REMON 1 – Ch. IV - Point 2)
Subtotal (Sum of rows 1 to 5)
Availability computable for the integration of minimum cash in pesos. (REMON 1 - 22 - 2. 1. )
7.1. Banknotes and coins,
7.2. Pending reimbursements for payment to beneficiaries of pensions and allowances.
7.3. B.C.R.A. - Reciprocal Credits - Pending Credits
7.4. B.C.R.A. - Reciprocal Credits - Pending Debits (-)
7.5. Services for rent and amortization of public securities deposited in
custody pending crediting to the B.C.R.A.
7.6. B.C.R.A. - Current Account.
7.7. Current accounts in commercial banks admitted for the integration
of minimum cash.
7.8. Banco de la Nación Argentina - Clearing House.
7.9. Currency in custody at other financial entities.
7.10. Interbank loans (REMON 1 - 10)
7.11. Other items.
Interbank loans. (1)
8.1. Taken
8.2. Granted (-)

Amount in pesos 9 BASIC LOAN: (Row 6 – Row 7 + Row 8) x 1,000,000

Place and date:
Accounting Area (2) General Manager
Signature and clarification Signature and clarification

Form. 3734 (VII - 82)
(1) - If a negative amount results, it will be indicated in parentheses. (2) To be signed by the highest-ranking responsible person.
The supply of this form must be requested via Form. 337