CENTRAL BANK OF THE ARGENTINE REPUBLIC

COMMUNICATION "A" 882 02/05/86

TO THE FINANCIAL INSTITUTIONS:

Ref.: Circular ACTIVE OPERATIONS - OPRAC - 1 - 125, PASSIVE OPERATIONS - OPASI - 1 - 79 and MONETARY REGULATIONS - REMON - 1 - 297. Regimes of Savings Accounts and of credits for the acquisition and construction of housing. Procedural rules and clarifications

We address you to send you the model of Form 4094 with the instructions for its completion, usable for making the movements of funds linked to the housing savings accounts opened in the authorized entities.

In addition, we send you the new model of Form 4071 "Debit/Credit Note" related to the use of the loan for the granting of financial assistance destined for the acquisition of housing and the subscription of Securities for Real Estate Reactivation (Communication "A" 775).

On the other hand, we point out to you that the presentation of the aforementioned forms and of 4070 and 4072 must be made in the Housing Financing Sector (Building "Tte. Gral. Juan D. Perón 455", 12th floor, office 123).

Finally, we formulate additional clarifications related to the regime of savings accounts and of credits for the construction of housing (Communication "A" 839).

We greet you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Eduardo C. Schweizer
Submanager of
Financing and Studies of the
Financial System

Elías Salama
General Submanager

ANNEXES

MODEL
Date
Day Month Year

CENTRAL BANK OF THE ARGENTINE REPUBLIC
Management of Financing and Studies of the
Financial System
Housing Financing Sector

HOUSING SAVINGS ACCOUNTS (COMMUNICATION "A" 839) Movement of funds

Current account
No.

Entity:

Debit (+) (1) 1. We request you in our current account Credit (-) (1)

---

Australes (2) -------------------------------------------------------- Amount in australes with centavos	Accounting imputation - counterpart	Amounts in australes with centavos
	2. Free savings plan
	2.1. Deposits (+) ------------------------------------------
	2.2. Withdrawals (-) ---------------------------------------
	3. Accelerated savings plan
	3.1. Deposits (+) ------------------------------------------
	3.2. Withdrawals (-) ---------------------------------------

Observations:

Place and date

Authorized signatures and clarifications

RESERVED FOR THE HOUSING FINANCING SECTOR

Date of receipt	Order No.	Received	Registered	Verified

[1] Mark with "X" the corresponding box - (2) - In words

[2] The provision of this form must be requested through Form 337

Form 4096 (II - 86)

B.C.R.A.
INSTRUCTIONS FOR THE COMPLETION OF FORM 4094
"HOUSING SAVINGS ACCOUNTS
(COMMUNICATION "A" 839) - MOVEMENT OF FUNDS"
Annex I to
Com. "A" 882

1. General instructions

To carry out daily movements of funds linked to the housing savings account regime (Communication “A” 839), the participating entities shall use Form 4094, which must be submitted directly to the Housing Financing Sector by 12:00 on the business day following the corresponding day.

It shall be completed in duplicate. The original shall be sent to said department and the duplicate shall be kept on file at the entity's head office.

Form 4094 is subject to the regime on submission of information (Circular RUNOR - 1, Chapter II, point 1.).

For the purposes of rounding amounts, values shall be increased by one unit when the first digit of the fractions is equal to or greater than five, discarding those that are lower.

2. Date

The date of receipt of the deposits and/or execution of the withdrawals shall be recorded.

3. Line 1.

The net amount to be debited (positive result) or credited (negative result) arising from the algebraic sum of the figures reported in lines 2.1., 2.2., 3.1. and 3.2. shall be determined.

These movements with value date shall be reported in line 37. of Form 3000 B, under the name “Movements of housing savings accounts (Communication “A” 839) pending settlement”.

4. Lines 2.2. and 3.2.

Withdrawals for principal, adjustments and interest shall be reported.

5. Observations

In this box the entities shall provide the clarifications they deem pertinent and all additional information required by the Central Bank.

MODEL

CENTRAL BANK OF THE ARGENTINE REPUBLIC
Financing and Financial System Studies
Management
Housing Financing Sector

DEBIT/CREDIT NOTE (COMMUNICATION “A” 775)

Checking account No.

Entity:

TABLE A

We request that you make on the date in our checking account the following movements of funds linked to the regime disseminated by Communication “A” 775.

1. DEBIT

Australes (1) --------------------------------------- --------------------------------------------------------- ----------------------------------------------------- (2) amount to be applied to the subscription of Securities for Real Estate Reactivation

2. CREDIT

Australes (1) --------------------------------------- --------------------------------------------------------- ----------------------------------------------------- (2) as a loan for the granting of credits for the acquisition of housing.

[1] - In words (2) - In figures, from right to left

[*] The supply of this form must be requested by Form No. 1794

Form 4071 (V - 86)

TABLE B

		Identification
Operation number	Surname and names or company name	Type	Number	Code	Amount
-1-	-2-	-3-	-4-	-5-	-6-

Total:

Observations:

Place and date

Authorized signatures and clarifications

RESERVED FOR THE HOUSING FINANCING SECTOR
Form 4070				Date of receipt	Received	Recorded	Verified
Order No.	Week	Month	Year

B.C.R.A. INSTRUCTIONS FOR THE INTEGRATION OF FORM 4071 "DEBIT/CREDIT NOTE (COMMUNICATION "A" 775)"
Annex II to
Com. "A" 882

1. General instructions

To carry out the movements of funds linked to the accreditation of the loan for the granting of credits destined for the acquisition of housing and the subscription of Securities for Real Estate Reactivation (Communication "A" 775). The entities shall use Form 4071, which must be submitted, together with Form 4070, in the Housing Financing Sector.

Its integration shall be made in duplicate. The original shall be sent to said department and the duplicate shall be filed at the entity's head office.

2. Table B

The operations for which Securities for Real Estate Reactivation must be subscribed shall be reported.

Column 1

The number duly assigned to the operation in column 1 of Table B of Form 4070 shall be entered.

Column 2

The surname and names or corporate name of the sellers of the housing, usable to name the certificates representing Securities for Real Estate Reactivation, shall be recorded.

Columns 3 and 4

The instructions for the integration of columns 3 and 4 of Form 3973 "Indebtedness of the main clients of the non-financial private sector" shall be followed.

Column 5

Codes 1 or 2 shall be noted according to whether the subscription of the securities is made upon signing the purchase-sale agreement or the deed, respectively.

Column 6

The amount to be invested in Securities for Real Estate Reactivation shall be indicated.

The result determined in the "TOTAL" line of this column must coincide with the amount to be debited recorded in point 1. of Table A.

B.C.R.A. CLARIFICATIONS LINKED TO THE REGIME DISSEMINATED BY COMMUNICATION "A" 839
Annex III to
Com. "A" 882

1 - Accrued and non-capitalized adjustments and interest form part of the concept of computable savings (point 2 of Annex I to Communication "A" 839).

2 - For the purposes provided in points 3.1.4., 3.1.6., 3.2.7. and 3.2.8. of Annex I to Communication "A" 839, the proportions that withdrawals represent with respect to computable savings shall be determined at the time of filing the request for withdrawal of funds.

3 - During the notice period, deposits shall not be accepted in the respective savings accounts.

4 - The notice notification established in point 3.2.7. of Annex I to Communication "A" 839 determines the moment from which the accelerated savings plan becomes free.

5 - Between each of the withdrawals referred to in point 3.1.4. of Annex I to Communication "A" 839, a minimum period of 60 days must elapse.

6 - The failure to integrate more than 3 non-consecutive installments within each 12-month period shall not cause any effect other than that derived from the determination of the waiting time.

7 - The situation provided in point 3.1.5. of Annex I to Communication "A" 839 shall imply, in addition, the expiration of the savings contract at the time of requesting the withdrawal of funds.

For the sums not included in said request, the provisions of point 5.5.6. shall apply.

8 - In accelerated savings plans, the waiting time for the award of credits shall be one month counted from the day following the presentation of the corresponding requests, provided that the omissions provided in point 3.2.5. of Annex I to Communication "A" 839 are not verified.