Circular REMON 1-1129 RUNOR 1-1898 OPASI 2-733: Time Deposits and Investments. Adjustments.

"Year of the Reconstruction of the Argentine Nation" COMMUNICATION “A” 8246 30/05/2025 TO FINANCIAL ENTITIES:
Ref.: Circular
REMON 1-1129,
RUNOR 1-1898,
OPASI 2-733:
Time Deposits and Investments. Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution has adopted the resolution that, in its pertinent part, provides:

“- To render ineffective, with effect for deposits collected from 02/06/25 onwards, the provisions made known through Communication A 6871 and complementary ones, related to deposits with early cancellation option in Purchasing Power Units adjustable by CER - Law 25.827 (UVA).

Time investments with early cancellation option in pesos expressed in Purchasing Power Units adjustable by CER - Law 25.827 (UVA), which are collected from natural persons from that date, shall have a minimum term of 90 (ninety) days and shall be governed by what is provided in point 2.3. of the consolidated text on Time Deposits and Investments.”

Regarding this, we provide you with the sheets that, in replacement of those previously provided, must be incorporated into the consolidated text (CT) of the reference and into the CTs on Minimum Cash and Communication by Electronic Means for Environmental Protection. In this sense, it is recalled that on this Institution’s website www.bcra.gob.ar, by accessing “Financial System - LEGAL AND REGULATORY FRAMEWORK - Consolidations and summaries - Consolidated texts of general regulations”, the modifications made with text highlighted in special characters (strikethrough and bold) can be found.

We salute you attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Darío C. Stefanelli Marina Ongaro
Principal Manager of Issuance and Normative Applications Deputy General Manager of Financial Regulation

ANEXO

• Index -
  Section 1. Time fixed.
  1.1. Admitted collection modalities.
  1.2. Holders.
  1.3. Investor identification and fiscal status.
  1.4. Special requirements.
  1.5. Instrumentation.
  1.6. Operational modalities.
  1.7. Constitution.
  1.8. Admitted currencies and titles.
  1.9. Deposits of Purchasing Power Units and Housing Units.
  1.10. Deposits with incentives or remuneration –total or partial– in goods or services.
  1.11. Remuneration.
  1.12. Term.
  1.13. Cancellation of the operation.
  1.14. Automatic renewal.
  1.15. Transmission.
  1.16. Secondary negotiation.
  1.17. Prohibitions.
  1.18. Publicity of the rules.
  1.19. Impositions in time deposit certificates originating from savings account credits - fund repatriation - Personal Assets Law 27.541.
  Section 2. Time investments.
  2.1. General aspects.
  2.2. Constant term.
  2.3. With early cancellation option.
  2.4. With option to renew for a determined term.
  2.5. Time term with variable remuneration.
  2.6. Savings account in Purchasing Power Units adjustable by “CER” - Law 25.827 (“UVA”): “Alcancía UVA”.
  2.7. Savings account in Housing Units adjustable by “ICC” - Law 27.271 (“UVI”).
  Section 3. General provisions.
  3.1. Identification.
  3.2. Fiscal status.

B.C.R.A. CONSOLIDATED TEXT ON
TIME DEPOSITS AND INVESTMENTS
Version: 10a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 1

2.2. Constant term.
2.2.1. Term.
Minimum: 180 days.
The term will have permanent validity, such that after thirty days have passed, the term is automatically extended by a term equal to that amount, unless there is an express statement to the contrary by the holder. In this case, maturity will occur on the day the term originally agreed upon is fulfilled, counted from the date of the imposition or from the last automatic extension in case this circumstance has occurred.

2.2.2. Holders.
Qualified investors, defined in point 3.3.

2.2.3. Interest rate.
The one freely agreed upon.
During the course of the term originally agreed upon, it may be fixed. Afterwards, it must be renegotiated, possibly applying pre-established margins (spreads) calculated on indicators of a financial nature of wide national or international dissemination. It may also be agreed to use variable rates from the start of the imposition. The calculation bases must be clearly established in the contract.

2.3. With early cancellation option.
2.3.1. Minimum term.
2.3.1.1. For non-transferable named certificates in pesos, corresponding to public sector holders: 30 days, with the possibility of early cancellation by the investor.
2.3.1.2. For non-transferable named certificates in pesos expressed in Purchasing Power Units adjustable by CER - Law 25.827 (UVA) –according to the calculation methodology provided in point 1.9.1.–, corresponding to natural person holders: 90 days, with the possibility of early cancellation by the investor.
2.3.1.3. Others: 180 days, with the possibility of early cancellation.

2.3.2. Cancellation.
Cancellation before maturity may be requested by the investor or by the entity, depending on who maintains the title to exercise that option. That right may only be exercised once the agreed period has elapsed, which may not be less than 90 or 30 calendar days counted from the date of the imposition, depending on whether they are UVA-adjustable investments whose holders are not natural persons or other investments with early cancellation option.

B.C.R.A. TIME DEPOSITS AND INVESTMENTS
Section 2. Time investments.
Version: 9a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 3

In the case of non-transferable named certificates, in pesos, corresponding to public sector holders who have the right to exercise the early cancellation option, the aforementioned period may not be less than 3 days.

2.3.3. Holders.
2.3.3.1. Qualified investors, defined in point 3.3.
When it is agreed that the entity has the right to cancel the investment early.
2.3.3.2. Remaining investors.
In case only the investor has the right of early cancellation.

2.3.4. Interest rate.
Fixed, freely agreed upon.

2.3.5. Price of the option.
It must be specified in the contract in one of the following forms:
2.3.5.1. Fixed sum of money disbursable at the start of the operation.
2.3.5.2. Value of the investment at the time of exercising the early cancellation right, detailing the method of determination.

2.4. With option to renew for a determined term.
2.4.1. Term.
Minimum: 90 days.
It may be extended for a predetermined term established in the contract, upon expiration of the originally fixed term. Renewal may be requested by the investor or by the entity, depending on who maintains the title to exercise that option.

2.4.2. Holders.
2.4.2.1. Qualified investors, defined in point 3.3.
When it is agreed that the entity has the right to renew the investment.
2.4.2.2. Remaining investors.
In case only the investor has the right of renewal.

2.4.3. Interest rate.
The one freely agreed upon.

B.C.R.A. TIME DEPOSITS AND INVESTMENTS
Section 2. Time investments.
Version: 5a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 4

Each imposition will have a availability periodicity from 90 to 180 calendar days from the date of the imposition, according to what is agreed between the parties, at which point it will be available to the account holder, remaining expressed in “UVI” until the moment of withdrawal. For the purpose of verifying compliance with the minimum term, financial entities must keep control of the permanence of each imposition and for the amounts originally deposited expressed in “UVI” at the date of each deposit.

2.7.2. Remuneration.
According to the fixed or variable rate freely agreed upon.

2.7.3. Interest settlement.
The interest amount will be settled in pesos, calculated on the “UVI” representing the capital at the date of payment.

2.7.4. Other provisions.
2.7.4.1. These accounts may not be subject to any commission charges (opening, maintenance, fund movements, balance inquiries, etc.).
2.7.4.2. The amount to be received at the maturity date of each imposition will be the equivalent in pesos of the quantity of “UVI”, calculated at that date.

B.C.R.A. TIME DEPOSITS AND INVESTMENTS
Section 2. Time investments.
Version: 8a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 10

TIME DEPOSITS AND INVESTMENTS
CONSOLIDATED TEXT ORIGIN RULE OBSERVATIONS Sec. Point Para. Com. Annex Chap. Sec. Point Para.
2.
2.1.8.2. “A” 1653 I 3.4.13.1.
2.1.9. “A” 2482 1. 3°
2.1.10. “A” 2482 1. 2° S/ Com. “A” 4874.
2.2.1. “A” 2482 1.A)1.
2.2.2. “A” 2482 1.A)2. 4°
2.2.3. “A” 2482 1.A)5.
2.3.1. “A” 2482 1.B)1. 1° S/Com. “A” 4754, 6579 and
8246.
2.3.2. “A” 2482 1.B)1. 2° S/Com. “A” 4754, 5149, 5945,
6125, 6494 and 8246 .
2.3.3.1. “A” 2482
“A” 2482
1.B)2. 1°
4°
2.3.3.2. “A” 2482 1.B)2. 2° S/Com. “A” 4754.
2.3.4. “A” 2482 1.B)5.
2.3.5.1. “A” 2482 1.B)7. a)
2.3.5.2. “A” 2482 1.B)7. b)
2.4.1. “A” 2482 1.C)1.
2.4.2.1. “A” 2482
“A” 2482
1.C)2. 1°
4°
2.4.2.2. “A” 2482 1.C)2. 2° S/Com. “A” 4754.
2.4.3. “A” 2482 1.C)5.
2.4.4. “A” 2482 1.C)7.
2.5.1. “A” 2482 1.D)1. S/Com. “A” 3043, 4234, 4612,
5945, 6874 and “C” 40024.
2.5.2. “A” 7018 3. S/Com. “A” 7029 and 7530.
2.5.3.1. “A” 2482 1.D)4.2. S/Com. “A” 2617 and 4612.
2.5.3.2. “A” 2482 1.D)4.1.
2.5.4. “A” 2482 1.D)5. S/Com. “A” 2617, 4234, 4612,
4742, 5671, 5740, 6232, 6846 and 7029.
2.5.5. “A” 2617 2. S/Com. “A” 4612.
2.5.6.1. “A” 2617 unique 1. S/Com. “A” 3043, 3185, 4234,
4612, 6091 and 6327.
2.5.6.2. “A” 2617 unique 2. S/Com. “A” 4234.
2.5.6.3. “A” 2617 unique 3. S/Com. “A” 3090, 3185 and
4234.
2.5.6.4. “A” 2617 unique 4.
2.5.6.5. “A” 2617 unique 6. S/Com. “A” 2961 (Annex),
4234, 4612, 5257, 7278 and
8136.
2.5.6.6. “A” 4612
2.5.6.7. “A” 4612 S/Com. “A” 5945 and 6069.
2.6. “A” 6069 2. S/Com. “A” 6170, 6494 and
6645.
2.7. “A” 6069 2.

On the other hand, the integration of the minimum cash requirement in pesos –periodic and daily– that these rules allow to be made with national public titles in pesos –including those adjustable by the CER and with dual currency yield (BONO DUAL) and excluding those linked to the evolution of the US dollar and Liquidity Fiscal Letters (LeFi)– acquired by primary subscription, may be carried out with those titles, with a residual term not less than 300 days nor greater than 730 calendar days at the time of subscription, received in swap operations disposed of by the National Government for titles acquired both by primary subscription and in the secondary market. To be admitted for integration with “National Treasury Bonds in pesos maturity May 23, 2027”, “National Treasury Bonds in pesos maturity November 23, 2027”, “National Treasury Bonds in pesos maturity August 23, 2025” and national public titles in pesos –including those adjustable by the CER and excluding those linked to the evolution of the US dollar and Liquidity Fiscal Letters (LeFi)–, LELIQ and/or NOBAC as provided in points 1.3.16. and 1.3.17., they must be valued at market prices –regardless of the valuation criterion for their accounting registration– and be deposited in Subaccount 60 minimum cash enabled in the Central Registry and Settlement of Public Debt Instruments, Monetary Regulation and Financial Trusts (CRYL). Additionally, LELIQ effectively used to integrate guarantees to cover net debtor balances arising in the compensation processes of peso operations of electronic compensation chambers, without exceeding 50% of the guarantees required for each product, are also admitted for the integration of the minimum cash requirement in pesos provided in point 1.3.17.

1.4. Residual term.
1.4.1.Determination.
1.4.1.1. General case.
The residual term of each time obligation is equivalent to the number of days remaining until its maturity.
1.4.1.2. Time investments.
In the case of time investments, the following criteria will apply:
i) Constant term.
The remaining term to maturity will be considered, taking into account the automatic extension or, in its case, the term resulting from exercising the option to revoke it. ii) With early cancellation option. The remaining term until the date the investor can exercise the early cancellation option will be taken into account, to the extent that they are the titleholder of the right, or the originally agreed term, in case the entity is the titleholder of that right.

B.C.R.A. MINIMUM CASH
Section 1. Requirement.
Version: 31a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 9

MINIMUM CASH
CONSOLIDATED TEXT ORIGIN RULE OBSERVATIONS Sec. Point Para. Com. Annex Sec. Point Para.
1.
1.3.7. “A” 3549 According to Com. “A” 4179, 4388,
4549, 4851, 5356, 5534,
5555,
5569, 5873, 5893, 5980, 6195,
6526, 6532, 6616, 6706, 6728,
6740, 6817, 7016, 7290, 7295,
7383, 7432, 7511, 7536, 7545,
7614, 7637, 7717, 7767, 7775,
7923, 8061 and 8124.
1.3.8. “A” 4754 6. According to Com. “A” 5356, 5980,
6195, 6526, 6532, 6616, 6728 and
7536.
1.3.9. “A” 5945 4. According to Com. “A” 6069, 6204 and
6616.
1.3.10. “A” 6341 According to Com. “A” 6616.
1.3.11. “A” 6069 4. According to Com. “A” 6616.
1.3.12. “A” 6992 According to Com. “A” 7988, 8000 and
8119.
1.3.13. “A” 8000 1. According to Com. “A” 8119.
1.3.14. “A” 7429
1.3.15. “A” 7556 4. According to Com. “A” 7570 and 7571.
1.3.16. “A” 6526 According to Com. “A” 6532, 6550,
6587, 6616, 6706, 7016, 7290,
7511, 7536, 7611, 7637, 7767 and
8134.
1.3.17. “A” 6550 According to Com. “A” 6556, 6559,
6575, 6587, 6616, 6706, 6738,
6740, 6817, 7018, 7029, 7047,
7092, 7290, 7295, 7383, 7432,
7511, 7536, 7545, 7573, 7614,
7717, 7775, 7923, 8061, 8124 and
8134.
1.3. Penultimate
“A” 7717 1. According to Com. “A” 8061.
Antepenultimate
“A” 6526 According to Com. “A” 6532, 6556,
6569, 6575, 6587, 6616, 6628,
6740, 7016, 7290, 7295, 7511,
7536, 7573, 7637, 7767 and 8061.
Last “A” 7742 Includes regulatory clarification.
1.4. “A” 3905 3. According to Com. “A” 4179, 4449,
4473, 5671, 5740, 6232, 6349,
6719, 6871, 7046 and 8246.
1.5. “A” 5356 2. According to Com. “A” 5471.
1.5.1. “A” 5356 2. According to Com. “A” 5471, 5623,
6531, 6703, 6705, 7430, 7432,
7758 and 7983, 8021, 8124.
1.5.2. “A” 6740 1. According to Com. “A” 7254, 7536,
7661 and 7795.

4.4.1.1. The one provided in point 4.5.
4.4.1.2. Regarding interest rates for overdrafts without current account agreements and interest rates for compensation and penalty on credit card financings offered to their customers, for operations in pesos with the following details:
i) Nominal annual interest rate. ii) Effective annual interest rate. iii) Total Financial Cost (CFT). iv) The highest and lowest interest rates, when regarding the mentioned lines there is more than one rate, with their expression in the terms of the preceding points. In all cases, the rates must be expressed as a percentage with at least one decimal. The total financial cost must be placed in a privileged location regarding the rest of the variables exposed. Its numerical value and the “%” sign must be identified legibly and prominently according to one of the following criteria:
a) with at least double the size –in identical font and preserving all stroke thickness, height and width proportions– to that used to inform the nominal annual interest rate level; or b) in a highlighted and/or distinct color typography –in identical font and size and preserving all height and width proportions– compared to that used to inform the nominal annual interest rate level.

4.4.1.3. Regarding the interest rate, as a percentage with two decimals, of time fixed deposits in pesos corresponding to the shortest term offered to their customers –discriminating between counter operations or home banking– with the following details:
i) Nominal annual interest rate. ii) Effective annual interest rate.

4.4.1.4. The scope of the deposit guarantee Ley 24.485 and complementary rules (type of operation, its condition as included or not in the regime, percentage and amount guaranteed, exceptions, etc.), according to what is established by point 6. of the CT on Application of the Deposit Guarantee Insurance System.

B.C.R.A.
COMMUNICATION BY ELECTRONIC MEANS FOR
ENVIRONMENTAL PROTECTION
Section 4. Information to be disseminated in public service areas.
Version: 5a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 2

They must also inform promotions and bonuses offered, with precise indication of start and end dates, as well as their modalities, conditions and limitations. The information must be integral, clear and discriminated by concept. A single hyperlink or hypertext link may be used to comply with this requirement, provided that the information provided is part of the obligated subject's official website. These publications bind these obligated subjects for the entire time they are available on their institutional Internet site and until they are replaced.

iii) Hypertext links located in a prominent place –in terms of visibility and size– of the first access to their Internet banking service –home banking– or similar mechanism that allow the user to revoke acceptance, as well as to rescind contractual relationships –according to the type of product or service in question–. The aforementioned hypertext links must be identified with the legend “regret button” or “unsubscribe button”, as applicable, and enable the user to –in the same act– proceed to the effective revocation or rescission of the product or service –as applicable–, within the framework of what is provided in subsection v) of point 2.3.1.1. of the CT on Protection of Financial Services Users and in point 3.2.1. of the CT on Communication by Electronic Means for Environmental Protection, and inform them: i. the file or management number; ii. the free nature of the revocation process; iii. any costs associated with the contractual relationship rescission procedure and iv. the steps to follow when the rescission cannot be perfected in that act.

5.3.1.2. They must disseminate through the Internet banking service (home banking) the following information:
i) The one provided in point 5.3.1.1. (when the entity has opted according to what is stated in the second paragraph of point 5.2.). ii) At the time of contracting any product and/or service through Internet banking (home banking) and prior to acceptance, the user must be informed of the data that integrate the operation settlement. At the same time, the client must be informed of the means available to them in case they wish to revoke acceptance or terminate the contractual relationship.

B.C.R.A.
COMMUNICATION BY ELECTRONIC MEANS FOR
ENVIRONMENTAL PROTECTION
Section 5. Information to be disseminated through the institutional website and Internet banking (home banking).
Version: 6a. COMMUNICATION “A” 8246 Validity:
02/06/2025 Page 2

CONSOLIDATED TEXT ORIGIN RULE OBSERVATIONS Sec. Point Para. Com. Annex Chap. Sec. Point Para.
1.
1.1. “A” 5886
1.1.1. “A” 5886
1.1.2. “A” 5886
1.1.3. “A” 5886
1.1.4. “A” 5886
1.1.5. “A” 7146 7.
1.2. “A” 5886
1.2.1. “A” 5886
1.2.2. “A” 5886
1.2.3. “A” 5886 S/Com. “A” 6664.
1.2.4. “A” 5886 S/Com. “A” 6279 and
6348.
1.2.5. “A” 5886
1.3. “A” 5886
1.4. “A” 5886
1.4.1. “A” 5886
1.4.2. “A” 5886
1.4.3. “A” 5886
1.4.4. “A” 5886
1.4.5. “A” 5886
2. “A” 5886 S/Com. “A” 6725.
3.
3.1. “A” 6042 10.
3.2. “A” 6042 11. S/Com. “A” 6188, 6448
and 7199.
3.3. “A” 6716 S/Com. “A” 8131.
3.4. “A” 7260
3.5. “A” 6448 6. S/Com. “A” 6664.
4.
4.1 “A” 6419 1. S/Com. “A” 6462.
4.2. “A” 6419 1.
4.3. “A” 6419 1.
4.4. “A” 6419 1. S/Com. “A” 6462, 6541,
6753, 6871, 6892, 7146 and 8246.
4.5. “A” 6419 1. S/Com. “A” 6547, 6721
and 6887.
4.6. “A” 6419 1. S/Com. “A” 6462.
5.
5.1. “A” 6419 2.
5.2. “A” 6419 2.
5.3. “A” 6419 2. S/Com. “A” 6721, 6871,
7146, 7199 and 8246.

B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE CONSOLIDATED TEXT ON COMMUNICATION BY ELECTRONIC MEANS FOR ENVIRONMENTAL PROTECTION