Circular OPASI 2 - 253. Savings Deposits, Payment of Remuneration and Special Accounts. Modification

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
COMUNICACION " A " 3247 I 30/03/01
TO FINANCIAL ENTITIES:
Ref.: Circular
OPASI 2 - 253
Savings Deposits, Payment of Remuneration and Special Accounts. Modification

We address you to inform you that this Institution has adopted, on the matter referenced, the following resolution:

“1. Substitute, with effect from 3.4.01, points 1.2., 1.3. and 1.6.1.2. of Section 1. of the regulations on “Savings Deposits, Payment of Remuneration and Special Accounts”, with the following:

“1.2. Holders.
Natural persons.”

“1.3. Identification and fiscal status of the holder.
Verification will be carried out based on the documents that holders must present, adjusted to what is provided in points 4.1. and 4.2. of Section 4. In addition, the following data must be required at a minimum:
1.3.1. Full names and surnames.
1.3.2. Place and date of birth.
1.3.3. Address.
1.3.4. Profession, trade, industry, commerce, etc.
1.3.5. Marital status.”

“1.6.1.2. Holder's name and surname and account number.”

“2. Order that financial entities must notify, immediately after becoming aware of this resolution, the legal entities that are holders of savings accounts, regarding the impossibility of maintaining them. In such communication, they must state that the accounts will be closed 15 calendar days after the date the notice is issued, with the balances remaining available to the holders for 30 days from that date. Additionally, it must be informed that after this last term has elapsed, the remaining amounts will be transferred to “Immobilized Balances”, also mentioning the commission that may be applied to them upon expiration of the said term.”

We send you the sheets in the Annex, which, in replacement of those previously provided, must be incorporated into the ordered text of the reference. We salute you very attentively. BANCO CENTRAL DE LA REPUBLICA ARGENTINA Alfredo A. Besio Alejandro Henke Manager of Submanager General of Emission of Regulations Regulation and Information Regime

ANNEX: 4 sheets

SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS B.C.R.A. Section 1. Savings account.
1.1. Participating entities.
1.1.1. Retail and wholesale commercial banks.
1.1.2. Financial companies.
1.1.3. Credit unions.
1.1.4. Savings and loan societies for housing or other real estate.
1.2. Holders.
Natural persons.
1.3. Identification and fiscal status of the holder.
Verification will be carried out based on the documents that holders must present, adjusted to what is provided in points 4.1. and 4.2. of Section 4. In addition, the following data must be required at a minimum:
1.3.1. Full names and surnames.
1.3.2. Place and date of birth.
1.3.3. Address.
1.3.4. Profession, trade, industry, commerce, etc.
1.3.5. Marital status.
1.4. Opening and operation of accounts. Precautions.
Precautions must be taken to prevent the opening of accounts to non-existent persons due to the presentation of inauthentic documents. In this matter, it is recommended, in case of not having sufficient references or assurances about the new client, to issue instructions that prior to processing the deposit of checks, aspects such as the age of the account, its movement, permanence of the deposits, and any other precaution that practice makes advisable, without harming the legitimate interests of clients who act honestly. Entities must pay attention to the operation of accounts with the purpose of avoiding that they may be used in relation to the development of illegal activities. Internal norms and procedures must be adopted to verify that the movement recorded in the accounts is reasonable with the activities declared by the clients.
1.5. Currencies.
1.5.1. Pesos.
1.5.2. United States dollars.
1.5.3. Other currencies.
At the request of the entities, the Central Bank of the Republic of Argentina may authorize the collection of deposits in other currencies.
1.6. Deposits and other credits.
1.6.1. Counter deposits under the agreed conditions.
The receipts used must contain, at a minimum, the following data:
1.6.1.1. Name of the financial entity.
1.6.1.2. Name and surname and account number.
1.6.1.3. Amount deposited.
1.6.1.4. Place and date.
1.6.1.5. When dealing with check deposits, the name of the drawn entity, the amount of each of the deposited checks, and the respective compensation periods.
1.6.1.6. Seal of the receiving house, unless mechanized security documents are used.
Version: 2nd Communication "A" 3247 Validity:
03.04.01

SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS B.C.R.A. Section 1. Savings account. Alternative means such as the magnetic card or identification by personal key may be used, guaranteeing the genuineness of the operations, extending the pertinent deposit record issued mechanically.
1.6.2. Deposits in automated teller machines.
The pertinent record will be issued with the essential data of the operation.
Entities must have implemented information security mechanisms that guarantee the genuineness of the operations.
1.6.3. Transfers -including electronic-, telephone orders, through "internet", etc.
The proof of the operation will be its record in the account statement (point 1.11.). Entities must have implemented information security mechanisms that guarantee the genuineness of the operations.
1.6.4. Capitalized interests and other credits.
1.7. Withdrawal of funds.
1.7.1. By counter, under the agreed conditions, through documents that meet the characteristics of a receipt.
Other alternative means such as the magnetic card or identification by personal key may be used, guaranteeing the genuineness of the operations, extending the pertinent transaction record.
1.7.2. Through automated teller machines and operations performed through terminals at points of sale.
The pertinent record will be issued with the essential data of the operation.
Version: 2nd Communication "A" 3247 Validity:
03.04.01

B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE REGULATIONS ON SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS ORDERED TEXT ORIGIN NORM Sec. Point Par. Com. Annex Cap. Sec. Point Par. OBSERVATIONS
1.1.1. "A" 1199
"A" 1820 I
I 2.
2.1. S/Com. "A" 1823 - pto. 2°
S/Com. "A" 2192 - pto 1.
S/Com. "A" 2241 - Cap. I

• Section 1.
  1.1.2. "A" 1199
  "A" 1823
  I 2.
  2.1.
  1.1.3. "A" 1199
  "A" 1823
  I 2.
  2.1.
  1.1.4. "A" 1199
  "A" 1823
  I 2.
  2.1.
  1.2. "A" 1653
  "A" 1820 I
  I 2.1.3.1.
  2.2.
  S/Com. "A" 2061- pto. 3. and “A” 3247 - pto. 1.
  1.3. "A" 3042 1. 1.3.1. S/Com. “A” 3247 - pto. 1.
  1° "A" 1199 I 5.7.
  2° “A” 1199 I 5.7.
  3° “A” 2814 1. 1.1.1.1.
  1.4.
  4° “A” 2814 1. 1.1.1.2.
  1.5.1. "A" 1199 I 2.
  1.5.2. "A" 1820 I 2.3.
  1.5.3. "A" 1820 I 2.3.
  1.6. "A" 3042 S/Com. “A” 3247 - pto. 1.
  1° "A" 1653 I 2.1.3.2.3. 1°
  “A" 1820 I 2.5. 2°
  1.7.1
  2° "A" 3042
  1° "A" 1653 I 2.1.3.2.3. 2°
  2° “A” 1653 I 2.1.3.2.3. 2°
  1.7.2.
  3° “A” 3042
  1° "A" 1653 I 2.1.3.3. S/Com. "A" 2061 - pto. 3.
  2° "A" 3042
  1.7.3.
  3° "A" 3042
  1.7.4. "A" 1653 I 2.1.3.2.2.
  1.7.5. "A" 3042
  1° "A" 1653 I 2.1.1.1.
  “A” 1820 I 2.4.
  2° “A” 1653 I 2.1.1.1.
  “A” 1820 I 2.4.
  1.8.1.
  3° “A” 3042
  1.8.2. "A" 2468 1. 2°
  1.9. "A" 2468 1 1°
  1.9.1. "A" 1653 I 2.1.3.2.2.
  3.3.
  1° "A" 2508 Único 1°
  2° "A" 2621 1. 1°
  3° "A" 2508 Unico 5°
  1.9.2.
  4° "A" 3042
  1.
  1.9.3. "A" 2468 1. 1°