Circular OPASI 2-405 / LISOL 1-509: Savings Account for Payment of Universal Child Allowance for Social Protection - Decree No. 1602/09

"2009 - Year of Tribute to Raúl SCALABRINI ORTIZ" COMMUNICATION "A" 5007 20/11/2009 TO FINANCIAL ENTITIES:
Ref.: Circular
OPASI 2 - 405
LISOL 1 - 509
Savings account for the payment of the universal child allowance for social protection - Decree No. 1602/09 -. ______ We address you to inform you that this Institution adopted the following resolution:

"- Incorporate as point 4.7. of Section 4. of the regulations on 'Savings deposits, payment of remuneration and special accounts', the following:

"4.7. Savings account for the payment of the universal child allowance for social protection - Decree No. 1602/09 -

4.7.1. Opening.
Financial entities shall open these accounts at the request of the National Social Security Administration (ANSES) in the name of the holders reported by that body, supplying as a minimum: surname and name and national identity document.

4.7.2. Identification of holders.
It shall be verified through the presentation of the National Identity Document of the holders, in accordance with what is provided in article 14 ter - subsection b - of Law 24.714 and its amendments.

4.7.3. Deposits.
Only the crediting of benefits corresponding to the allowance, fiscal refunds, promotions of the financial entity and other concepts derived from the same benefit, in pesos, shall be admitted.

4.7.4. Fee-free transactions.
As a minimum, the following operations:

• Account opening and maintenance.
• Three fund withdrawals or balance and transaction inquiries, per calendar month, carried out by ATMs in the country belonging to the same financial entity issuing the debit card delivered to operate with the account.
• Purchases and/or cash withdrawals at affiliated merchants, carried out with the debit card.
  Transactions - regardless of their nature - shall not generate a negative balance.

4.7.5. Debit card.
A magnetic card shall be provided - free of charge - to the account holder, allowing them to operate with ATMs and carry out the other operations provided for in point 4.7.4. Replacements due to demagnetization shall not cost the customer.

4.7.6. Account statement.
The periodic issuance of statements with the detail of the transactions recorded in the accounts is not mandatory. In its place, the deposit bank's ATM system shall provide for the issuance of a slip showing the balance and the last ten transactions performed. This is without prejudice to the beneficiary's ability to personally request the account statement at the corresponding branch.

4.7.7. Account closure.
Account closure shall occur if no debit or credit transactions are verified during a period of 180 consecutive days. At that time, the remaining funds shall be transferred to ANSES without the need to complete any other procedure, with the sole exception of balances corresponding to credits linked to tax benefits and/or refunds from promotions, which shall be destined as immobilized balances in accordance with what is provided in point 5.7. of Section 5. of these regulations.

4.7.8. Delivery of regulations to holders.
Financial entities shall deliver to the holders the full text of points 4.7.2. to 4.7.8. of this regulation along with the conditions linked to the allowance card, at the time of delivery of the debit card, and the deposit bank must keep a record of its availability to the interested party, which may be formalized in a list prepared for this purpose.

4.7.9. Retention of documentation.
The documentation related to the opening and deposit of allowances in these accounts (copy of the holder's national identity document, lists provided by ANSES for the opening and crediting of benefits, record of the delivery of the regulations and card provided for in point 4.7.8.) shall be kept in a manner that facilitates compliance with the control and supervision of the applying authority established by Decree 1602/09 or, if applicable, the legal norm that stipulates it."

We send you the sheets that, in replacement of those previously provided, should be incorporated into the organized texts of the regulations on "Savings deposits, payment of remuneration and special accounts" and "Minimum cash". Likewise, it is recalled that on this Institution's website www.bcra.gov.ar, accessing "regulations" ("organized texts"), the modifications made with text highlighted in special characters (strikethrough and bold) will be found.

We salute you very respectfully.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Darío C. Stefanelli José I. Rutman
Manager of Emission of Norms
Deputy General Manager of Norms

ANNEX

Regarding the provisions referred to statements, account closure and deposit guarantee, a similar treatment to that established in points 4.4.10. to 4.4.12. shall apply.

4.7. Savings account for the payment of the universal child allowance for social protection - Decree No. 1602/09 -
4.7.1. Opening.
Financial entities shall open these accounts at the request of the National Social Security Administration (ANSES) in the name of the holders reported by that body, supplying as a minimum: surname and name and national identity document.
4.7.2. Identification of holders.
It shall be verified through the presentation of the National Identity Document of the holders, in accordance with what is provided in article 14 ter - subsection b - of Law 24.714 and its amendments.
4.7.3. Deposits.
Only the crediting of benefits corresponding to the allowance, fiscal refunds, promotions of the financial entity and other concepts derived from the same benefit, in pesos, shall be admitted.
4.7.4. Fee-free transactions.
As a minimum, the following operations:

• Account opening and maintenance.
• Three fund withdrawals or balance and transaction inquiries, per calendar month, carried out by ATMs in the country belonging to the same financial entity issuing the debit card delivered to operate with the account.
• Purchases and/or cash withdrawals at affiliated merchants, carried out with the debit card.
  Transactions - regardless of their nature - shall not generate a negative balance.
  4.7.5. Debit card.
  A magnetic card shall be provided - free of charge - to the account holder, allowing them to operate with ATMs and carry out the other operations provided for in point 4.7.4. Replacements due to demagnetization shall not cost the customer.

SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS B.C.R.A.
Section 4. Specials.
Version: 2nd. COMMUNICATION "A" 5007
Validity:
20/11/2009

4.7.6. Account statement.
The periodic issuance of statements with the detail of the transactions recorded in the accounts is not mandatory. In its place, the deposit bank's ATM system shall provide for the issuance of a slip showing the balance and the last ten transactions performed. This is without prejudice to the beneficiary's ability to personally request the account statement at the corresponding branch.
4.7.7. Account closure.
Account closure shall occur if no debit or credit transactions are verified during a period of 180 consecutive days. At that time, the remaining funds shall be transferred to ANSES without the need to complete any other procedure, with the sole exception of balances corresponding to credits linked to tax benefits and/or refunds from promotions, which shall be destined as immobilized balances in accordance with what is provided in point 5.7. of Section 5. of these regulations.
4.7.8. Delivery of regulations to holders.
Financial entities shall deliver to the holders the full text of points 4.7.2. to 4.7.8. of this regulation along with the conditions linked to the allowance card, at the time of delivery of the debit card, and the deposit bank must keep a record of its availability to the interested party, which may be formalized in a list prepared for this purpose.
4.7.9. Retention of documentation.
The documentation related to the opening and deposit of allowances in these accounts (copy of the holder's national identity document, lists provided by ANSES for the opening and crediting of benefits, record of the delivery of the regulations and card provided for in point 4.7.8.) shall be kept in a manner that facilitates compliance with the control and supervision of the applying authority established by Decree 1602/09 or, if applicable, the legal norm that stipulates it.

SAVINGS DEPOSITS, PAYMENT OF REMUNERATION AND SPECIALS B.C.R.A.
Section 4. Specials.
Version: 1st. COMMUNICATION "A" 5007
Validity:
20/11/2009

DEPOSITS OF SAVINGS, PAYMENT OF REMUNERATION AND SPECIALS ORGANIZED TEXT ORIGIN OF THE NORM Sec. Point Par. Com. Annex Ch. Sec. Point Par. OBSERVATIONS
4.2.2. "A" 1247 4.3.2.
4.2.3. "A" 1247 4.3.3.
4.2.4.1. "A" 1247 4.3.4.1. S/Com. "A" 3042.
4.2.4.2. "A" 1247 4.3.4.2.
4.2.5. "A" 1247 4.3.5.
4.2.6. "A" 1247 4.3.6.
4.2.7. "A" 1247 4.3.7.
4.2.8. "A" 1247 4.3.8.
4.3. "A" 1199 I 4.1.
4.4. "A" 3250 1.
4.4.1. "A" 3250 1.
4.4.2. "A" 3250 1.
4.4.3. "A" 3250 1.
4.4.4. "A" 3250 1.
4.4.5. "A" 3250 1. S/Com. "A"4936, 4971
pt. 18. and 5000
4.4.6. "A" 3250 1.
4.4.7. "A" 3250 1.
4.4.8. "A" 3250 1.
4.4.9. "A" 3250 1.
4.4.10. "A" 3250 1. S/Com. "A" 3323, "A"
3014 pt 3.7.1. and 4809.
4.4.11. "A" 3250 1.
4.4.12. "A" 3250 1.
4.4.13. "A" 3250 1.
4.4.14. "A" 3250 1.
4.5. "A" 3583 1 S/Com. "A" 3827, pt.
3.
4.6. "A" 3566 1. S/Com. "A" 4602,
points 1 and 2.
4.
4.7. "A" 5007
5.1. "A" 3042
5.1.1. "A" 2885 1.
5.1.2. "A" 2885 2. 2.2.
5.1.3. "A" 2885 2. 2.3.
5.1.4. "A" 2885 2. 2.4.
5.1.5. "A" 2885 2. 2.5. and 2.6.
5.1.6. "A" 3042
5.2. "A" 1891 S /Com. "A" 1922 and "A"
3323 and "A" 4875.
1° "A" 2530 1°
2° "A" 2530 3° and 4°
5.3.1.
3° "A" 2530 5°
5.
5.3.2. "A" 2530 2°

1.3. Minimum cash.
The amounts of minimum cash resulting from applying the following rates shall be integrated:
Concept Rate in %
1.3.1. Deposits in current accounts (except those included in point 1.3.14.)
and sight accounts opened in cooperative credit unions. 19
1.3.2. Deposits in savings accounts and basic account.
1.3.2.1. In pesos (except those included in point 1.3.14.). 19
1.3.2.2. In foreign currency. 20
1.3.3. Nursery usuries, special accounts for closed circles, "Severance fund for workers in the construction industry", "Payment of remuneration", "Special current accounts for legal entities" and "Savings account for the payment of the universal child allowance for social protection - Decree No. 1602/09 -".
1.3.3.1. In pesos (except those included in point 1.3.14.). 19
1.3.3.2. In foreign currency. 20
1.3.4. Other deposits and sight obligations, pension benefits credited by ANSES pending effective realization and immobilized balances corresponding to obligations included in these regulations.
1.3.4.1. In pesos (except those included in point 1.3.14.). 19
1.3.4.2. In foreign currency. 20
1.3.5. Unused balances of current account advances formalized. 19
1.3.6. Deposits in current accounts of non-bank financial entities,
computable for the integration of their minimum cash. 100
1.3.7. Time deposits, obligations for "acceptances" - including liabilities from sale or assignment of credits to subjects other than financial entities -, passive swaps, guarantees and passive stock market swaps, investments at constant term, with option for early cancellation or renewal for a determined term and with variable remuneration, and other obligations at term with the exception of deposits included in points 1.3.11.,
1.3.12., 1.3.13. and 1.3.15., according to their residual term:
B.C.R.A. MINIMUM CASH
Section 1. Requirement.
Version: 31st. COMMUNICATION "A" 5007
Validity:
20/11/2009

ORGANIZED TEXT ORIGIN OF THE NORM
Sec. Point Par. Com. Annex Sec. Point Par.
OBSERVATIONS
1.1. "A" 3274 II 1. 1.1.
1.1.1. "A" 3274 II 1. 1.1.1. According to Com. "A" 3498.
1.1.2. "A" 3274 II 1. 1.1.2. According to Com. "A" 3597, 4815 and
"B" 9186.
1.1.3. "A" 3274 II 1. 1.1.3. According to Com. "A" 3498, 3905 and
4473.
1.2. "A" 3274 II 1. 1.2. According to Com. "A" 3304, 3498,
3597, 4449 and 4716 (includes interpretative clarification), 4815 and "B" 9186.
1.3. "A" 3274 II 1. 1.3.
1.3.1. "A" 3274 II 1. 1.3.1. According to Com. "A" 3338, 3417,
3498, 3597, 3917, 3967, 4032,
4051, 4147, 4276, 4449, 4473,
4509, 4549, 4602 and 4712.
1.3.2. "A" 3274 II 1. 1.3.2. According to Com. "A" 3338, 3417,
3498, 3597, 3917, 3967, 4032,
4051, 4147, 4179, 4276, 4449,
4473, 4509, 4549, 4602, 4809 and 4851.
1.3.3. "A" 3274 II 1. 1.3.3. According to Com. "A" 3338, 3399,
3417, 3498, 3597, 3824, 3917,
3967, 4032, 4051, 4147, 4179,
4276, 4449, 4473, 4509, 4549,
4602, 4754, 4851 and 5007
1.3.4. "A" 3274 II 1. 1.3.4. According to Com. "A" 3338, 3417,
3498, 3597, 3917, 3967,
4032, 4051, 4147, 4179, 4276,
4449, 4473, 4509, 4549 4602 and 4851.
1.3.5. "A" 3274 II 1. 1.3.5. According to Com. "A" 3338, 3417,
3498, 3597, 3917, 3967,
4032, 4051, 4147, 4276,
4449, 4509 and 4549.
1.3.6. "A" 3274 II 1. 1.3.7.
1.3.7. "A" 3498 unique 1. 1.3.8. According to Com. "A" 3506 -pt. 2.-,
3549, 3732, 3824, 3905,
3917, 3925, 3967, 4032,
4140, 4179, 4276, 4360 -pt.
3.-, 4449, 4549 , 4602, 4754 and
4851.
1.3.8. "A" 3498 unique 1. 1.3.11. According to Com. "A" 3597, 3732 and
4032.
1.3.9. "A" 3498 unique 1. 1.3.12. According to Com. "A" 3905, 3917,
3967, 4032, 4179, 4276, 4449
, 4549 and 4851.
1.3.10. "A" 3549 1.
1.
1.3.11. "A" 3549 1. According to Com. "A" 4179, 4388,
4549 and 4851.
B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORGANIZED TEXT OF THE REGULATIONS ON "MINIMUM CASH"