Circular REMON 1 - 867: Minimum Cash. Minimum Daily Integration in Foreign Currency. Adjustment.

"2011 – Year of Decent Work, Health and Safety at Work" COMMUNICATION “A” 5246 11/11/2011 TO FINANCIAL ENTITIES:
Ref.: Circular
REMON 1 - 867
Minimum Cash. Minimum Daily Integration in Foreign Currency. Adjustment.

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We address you to inform you that this Institution has adopted the following resolution:

“- Establish that, effective 11/01/11 and for the purposes of determining the minimum daily integration requirement in foreign currency referred to in point 2.3 of Section 2 of the regulations on “Minimum Cash”, the amount referred to in point 1.7 of the aforementioned regulation shall be excluded from the calculation base.”

Likewise, we send you attached the sheets that, in replacement of those previously provided, must replace the ordered text of the regulations on “Minimum Cash”.

Finally, it is recalled that on this Institution’s website www.bcra.gov.ar, by accessing “regulations” (“ordered texts”), the modifications made with texts highlighted in special characters (strikethrough and bold) will be found.

We salute you attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Matías A. Gutiérrez Girault Alfredo A. Besio
Manager of Emission of Regulations a/c
General Manager of Regulations

ANNEX

6.1. Average integration of minimum cash.
From 12/01/08, for the purposes of integrating minimum cash in pesos and in foreign currency, the total cash held in financial entities, in transit and in cash-in-transit companies referred to in points 2.1.1. and 2.1.6. of Section 2 may be computed.

6.2. Treatment of special deposits linked to the externalization and repatriation of capital with respect to Law 26.476.
The application defect of resources corresponding to deposits in pesos that is determined in a month shall be computed for an equivalent amount in the calculation of the minimum cash requirement in pesos for that period.

Likewise, until the National Executive Power regulates the destination of the lending capacity, both in pesos and in foreign currency, the application defects shall be remunerated by this Institution. To this end, they shall be considered in the calculations of the remuneration of the balances of the accounts opened at the Central Bank -points 2.4. and 2.5., respectively-.

6.3. Minimum daily integration in foreign currency.
From 11/01/11, the application defect of resources in that species (point 1.7.) shall be excluded from the calculation base of the minimum daily integration requirement in foreign currency.

Version: 9th COMMUNICATION “A” 5246
Validity
01/11/2011
MINIMUM CASH B.C.R.A.
Section 6. Transitional provisions.

MINIMUM CASH
ORDERED TEXT ORIGIN NORM
Sec. Point Para. Com. Annex Sec. Point Para.
OBSERVATIONS
3.2. “A” 3274 II 3. 3.2.
3.2.1. “A” 3274 II 3. 3.2.2.1. According to Comm. “A” 4449.
3.2.2. “A” 3274 II 3. 3.2.2.2. According to Comm. “A” 4449.
3.3. “A” 3274 II 3. 3.3. According to Comm. “A” 3498.
3.3.1. “A” 3274 II 3. 3.3.1. According to Comm. “A” 4771.
3.
3.3.2. “A” 3274 II 3. 3.3.2.
4. 4.1. “A” 3274 II 4. 4.1.
5.1. “A” 3274 II 5. 5.1. According to Comm. “A” 3498.
5.2. “A” 3905 5.
5.
5.3. “A” 3905 5. According to Comm. “A” 4449.
6.1. “A” 4872
6.2. “A” 4916 3.
6.
6.3. “A” 5246