Circular Monetary Regulations - REMON 1 - 359. Transfer or encumbrance as guarantee of special deposit "at non-regulated rate" — BCRA — AR

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 1070 24/08/87
TO FINANCIAL ENTITIES:
Ref.: Circular MONETARY REGULATIONS - REMON - 1 - 359. Transfer or encumbrance as guarantee of special deposit "at non-regulated rate"

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

"- Establish that the special deposit 'at non-regulated rate' may be transferred between entities or affected as guarantee for interfinancial loans up to the amount of ARS 7,000,000 or 15% of the current initial imposition updated by adjustments accrued to the second month prior to the one corresponding, whichever is greater."

In order to register the expansion of the transferable and pledgeable margin of the special deposit "at non-regulated rate", the amount determined by application of the preceding resolution must be debited from the account "Special Deposit - Communication "A" 925 - Unavailable" (code 33000) with a credit to the account "Special Deposit - Communication "A" 925 - Transferable and pledgeable margin" (code 34000). To this effect, in accordance with the provisions referred to in point 1. of the Annex to Communication "A" 938, Formula 4112 or "telex" testing the expression "between entities" inserted in its denomination must be sent, indicating as the concept of the operation code 380 and immediately thereafter the legend "Transfer - Com. "A" 1070". Likewise, a photocopy of Formula 4112 - 2, with the intervention of the Treasury Department, must be presented no later than 4.9.87 to the Management of Control of Financial Entities, detailing on the back the calculations made for its integration. In the event that the transfer of funds is ordered by "telex", it will be necessary to send a note with the aforementioned information, additionally indicating the message number and the transmission date.

We salute you very respectfully.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Alfredo A. Besio
Manager of Standards for
Financial Entities
Julio A. Piekarz
Deputy General Manager