RegAlertRule · BCRA · 17 Dec 1991 · A 1911
Circular REMON 1 - 644. Charges for deficiencies in minimum cash holdings in australes for December 1991
The Central Bank of the Republic of Argentina imposes specific penalty charges on financial entities for minimum cash deficiencies recorded in australes during December 1991. The penalty structure applies a 1.64% monthly effective rate for deficiencies up to 10% of the requirement, 1.4 times the maximum rediscount rate of December 1991 for deficiencies between 10% and 13%, and twice that rate for deficiencies exceeding 13%. Deficiencies not subject to the maximum charge are not considered defaults for other applicable provisions, nor do they trigger the obligation to submit an adequacy plan. The standard penalty scale, previously communicated via Communication "A" 1783, is restored starting from January 1992.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA
__________________________________________________________________ COMUNICACION " A " 1911 I 17/12/91 __________________________________________________________________ TO FINANCIAL ENTITIES:
Ref.: Circular
REMON 1 - 644.
Charges for deficiencies in minimum cash holdings in australes corresponding to December 1991
We address you to inform you that this Institution has adopted the following resolution:
- Establish that deficiencies in the integration of minimum cash in australes that are registered in December 1991 will be subject to the charges indicated below:
| Deficiency/Requirement | Charge Rate |
|---|---|
| Up to 10% | 1.64% effective monthly rate |
| More than 10% and up to 13% | 1.4 times the maximum rediscount rate of December 1991. |
| More than 13% | 2 times the maximum rediscount rate of said month |
We remind you that deficiencies not subject to the maximum charge will not be considered defaults for the purposes provided in the remaining provisions applicable to such departures, nor will they be counted to determine the obligation to submit an adequacy plan.
Starting from January 1992, the scale of charges previously made known through Communication "A" 1783 will be restored.
We salute you very attentively.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA
Eduardo S. Alvarez Eduardo Castro
General Accountant General Manager
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