Circular REMON 1-1135: Minimum Cash Requirements. Adjustments.

“Year of the Reconstruction of the Argentine Nation” COMMUNICATION “A” 8281 07/17/2025 TO FINANCIAL ENTITIES:
Ref.: Circular REMON 1-1135: Minimum Cash Requirements. Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution has adopted the resolution which, in its pertinent part, establishes:
“- Increase, effective from 08/01/25, by 10 (ten) percentage points the minimum cash requirement rates applicable to:
a) Peso deposits, at sight and term investments with early redemption option from the day the investor may exercise that option, which constitute the assets of common money market investment funds (money market); and b) Passive peso stock exchange pledges.” In this regard, we provide you with the sheets that, replacing those previously issued, must be incorporated into the referenced consolidated text. In this sense, please note that on this Institution’s website www.bcra.gob.ar, under “Financial System - LEGAL AND REGULATORY FRAMEWORK - Regulations and summaries - Consolidated general regulatory texts”, you will find the modifications made with text highlighted in special characters (strikethrough and bold). We remain, respectfully yours. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Chief Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation
ANNEX

Concept	Rates in %	Group A and G-SIB not included in that group	Remaining entities
1.3.7. At sight and term deposits made by court order with funds originating from the cases in which they intervene, and their immobilized balances.
1.3.7.1. In pesos, according to their remaining term.
i) Up to 29 days.	22	10
ii) From 30 to 59 days.	14	7
iii) From 60 to 89 days.	4	2
iv) 90 days or more.	0	0
1.3.7.2. In foreign currency.	15	15
1.3.8. Term investments issued via non-transferable registered certificates, in pesos, corresponding to public sector holders who have the right to exercise early redemption within a period of less than 30 days counted from their establishment.	25	11
1.3.9. UVA and UVI term deposits and investments –including savings accounts and debt securities (including debentures) in UVA and UVI–, according to their remaining term.
i) Up to 29 days.	7	7
ii) From 30 to 59 days.	5	5
iii) From 60 to 89 days.	3	3
iv) 90 days or more.	0	0
1.3.10. Labor Termination Fund for Construction Industry Workers in UVA.	7	7
1.3.11. Term deposits and investments established in the name of minors from funds received gratuitously.	0	0
1.3.12. Peso deposits, at sight and term investments with early redemption option from the day the investor may exercise that option, which constitute the assets of common money market investment funds (money market).	30	30
B.C.R.A. MINIMUM CASH REQUIREMENTS Section 1. Requirement. Version: 38a. COMMUNICATION “A” 8281 Effective: 08/01/2025 Page 6

Concept	Rates in %	Group A and G-SIB not included in that group	Remaining entities
1.3.13. Passive peso stock exchange pledges, according to their remaining term.
i) Up to 29 days.	30	30
ii) 30 days or more.	25	25
1.3.14. Peso deposits in accounts of payment service providers offering payment accounts (PSPOCP) in which their clients' funds are deposited.	100	100
1.3.15. Deposits in special accounts:
1.3.15.1. In pesos (“Special accounts for holders with agricultural activity” and “Special accounts for exporters”).	0	0
1.3.15.2. In US dollars (“Special accounts to certify export financing”).	0	0
1.3.16. Financial entities may integrate the peso requirement –periodic and daily– with “National Treasury Bonds in pesos maturing May 23, 2027”, “National Treasury Bonds in pesos maturing November 23, 2027”, “National Treasury Bonds in pesos maturing August 23, 2025” and with national peso public securities provided for in point 1.3.17. up to:
a) 5 percentage points of the rates provided for in point 1.3.8. and in subsections i) and ii) of points 1.3.5.1. and 1.3.7.1.
b) 2 percentage points of the rates provided for in subsection iii) of points 1.3.5.1. and 1.3.7.1.
c) 45 percentage points of the rate provided for in point 1.3.14.
d) Entities included in Group A and branches or subsidiaries of G-SIB not included in that group: 5 percentage points of the rates provided for in points 1.3.1., 1.3.2.1. and 1.3.3.
1.3.17. Financial entities may integrate the peso requirement –periodic and daily– with BCRA Liquidity Notes (LELIQ) –those with the shortest issuance term– and/or BCRA Notes (NOBAC) and/or national peso public securities –including those adjustable by CER and with dual currency yield (BONO DUAL) and excluding those linked to the evolution of the US dollar and Liquidity Fiscal Notes (LeFi)– with a remaining term at the time of integration not exceeding 760 calendar days acquired through primary subscription as follows:

MINIMUM CASH REQUIREMENTS CONSOLIDATED TEXT ORIGIN REGULATION OBSERVATIONS Sec. Point Para. Com. Annex Sec. Point Para.
1. 1.3.7. “A” 3549 According to Comm. “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 Comm. “A” 5356, 5980, 6195, 6526, 6532, 6616, 6728 and 7536.
1.3.9. “A” 5945 4. According to Comm. “A” 6069, 6204 and 6616.
1.3.10. “A” 6341 According to Comm. “A” 6616.
1.3.11. “A” 6069 4. According to Comm. “A” 6616.
1.3.12. “A” 6992 According to Comm. “A” 7988, 8000, 8119, 8189 and 8281.
1.3.13. “A” 8000 1. According to Comm. “A” 8119 and 8281.
1.3.14. “A” 7429
1.3.15. “A” 7556 4. According to Comm. “A” 7570 and 7571.
1.3.16. “A” 6526 According to Comm. “A” 6532, 6550, 6587, 6616, 6706, 7016, 7290, 7511, 7536, 7611, 7637, 7767 and 8134.
1.3.17. “A” 6550 According to Comm. “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, 8134, 8189 and 8252.
1.3. Third-to-last “A” 7717 According to Comm. “A” 8061.
1.3. Second-to-last “A” 6526 According to Comm. “A” 6532, 6556, 6569, 6575, 6587, 6616, 6628, 6740, 7016, 7290, 7295, 7511, 7536, 7573, 7637, 7767 and 8061.
1.3. Last “A” 7742 Includes regulatory clarification.
1.4. “A” 3905 3. According to Comm. “A” 4179, 4449, 4473, 5671, 5740, 6232, 6349, 6719, 6871, 7046 and 8246.
1.5. “A” 5356 2. According to Comm. “A” 5471.
1.5.1. “A” 5356 2. According to Comm. “A” 5471, 5623, 6531, 6703, 6705, 7430, 7432, 7758 and 7983, 8021, 8124 and 8159.
1.5.2. “A” 6740 1. According to Comm. “A” 7254, 7536, 7661 and 7795.