RegAlertRule · BCRA · 29 May 1992 · A 1962
Circular REMON 1 - 651. Interest Rate Applicable to Rediscounts for Illiquidity
The Central Bank of the Republic of Argentina invalidates Communication A 1793 and establishes an effective monthly interest rate of 3.5% (advanced equivalent) for rediscount funds granted to address illiquidity situations. The collection of interest amounts follows the practice outlined in Communication A 1654, and this resolution applies to operations credited starting June 1, 1992.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA
__________________________________________________________________ COMUNICACION " A " 1962 I 29/05/92 __________________________________________________________________ TO FINANCIAL ENTITIES:
Ref.: Circular
REMON 1 - 651.
Interest Rate Applicable to Rediscounts for Illiquidity.
We address you to inform you that this Institution has adopted the following resolution:
- To render ineffective the provisions of Communication "A" 1793.
- To determine that:
2.1. The interest rate to be applied to funds granted under the rediscount regime for the attention of illiquidity situations (Circular REMON -1- Chapter IV, point 1.) shall be the advanced equivalent of 3.5% effective monthly.
2.2. The collection of the interest amount shall be carried out as is customary according to the provision of point 3 of Communication "A" 1654. - This resolution shall take effect from operations credited with date 01.06.92.
We salute you very attentively.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA
Juan C. Baez Eduardo G. Castro
Credit Manager General Sub-manager of the B.C.R.A. Liquidations Area
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- Obligation 1
- Definition / condition 4
- background, boilerplate
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