"2012 – Year of Homage to Doctor D. Manuel Belgrano" COMMUNICATION "A" 5299 30/03/2012 TO FINANCIAL ENTITIES:
Ref.: Circular
REMON 1 - 868
OPRAC 1 - 668
Minimum cash. Cooperative credit banks (Law 26.173). Credit policy. Amendments under Law 26.739.

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We address you to inform you that this Institution adopted the following resolution:
"1. To leave without effect, from 1.4.12, points 2.1.1. and 2.1.6. of Section 2. and 6.1. of Section 6. of the rules on "Minimum cash".
2. To admit on a transitional basis that, from 1.4.12, for the peso position, financial entities deduct from the average minimum cash requirement, the amount corresponding to the integration made in March 2012 with cash, cash in transit and in cash transport companies, after computing the remaining items admitted as integration and without exceeding the amount necessary to reach the equilibrium position (without excess or defect).
3. To provide that the deduction established in the preceding point shall not be considered for the purposes of determining the minimum daily integration in pesos contemplated in point 2.3. of the rules on "Minimum cash".
4. To replace, with effect from 1.4.12, points 2.2., 2.3., 2.4. (first paragraph), 2.4.1., 2.4.2., 2.5. (first paragraph) and 2.5.1. of Section 2. of the rules on "Minimum cash", with the following:
"2.2. Computation.
Compliance with the minimum cash integration shall be measured on the basis of the monthly average of daily balances of the concepts admitted for that purpose, recorded during the same month to which the minimum cash corresponds, dividing the sum of said balances by the total number of days of the period, except for the period December of one year/February of the following year, in which the integration in pesos shall be observed on the average resulting from dividing the sum of the daily balances of the concepts included recorded during that period by the total number of days of the quarter.

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On days when no movement is recorded, the balance corresponding to the immediately preceding business day must be repeated.
In the case of current accounts opened in commercial banks by non-bank entities, the balances reflected in the account statements shall be taken into account. Compensation of deficit positions with surplus positions corresponding to different requirements shall not be admitted." "2.3. Minimum daily integration. On no day of the month or of the quarterly period -December of one year/February of the following year-, may the sum of the balances of the concepts admitted as integration, recorded at the close of each day, be less than 50% of the total minimum cash requirement, determined for the immediately preceding month, recalculated based on the requirements and concepts in force in the month to which the reserves correspond, without considering the effects of the application of the provisions of point 1.6.1. of Section 1. To determine the minimum daily integration in pesos, in the quarterly position the total minimum cash requirement of November shall be considered and in March the one corresponding to February. Said daily requirement shall be 70% when in the previous computation period an average integration deficiency greater than the admitted transfer margin has been recorded. No minimum daily integration shall be required for deposits in public securities and monetary regulation instruments of the Central Bank." "2.4. Remuneration of the balances of peso accounts opened in the Central Bank. Interest shall be recognized on the proportion of the monthly average of the daily balances of the current accounts and of the special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations with credit cards, consumer vouchers, at ATMs and by immediate fund transfers (considered together) corresponding to the integration of the requirement derived from deposits and time obligations, without exceeding the greater of the amounts resulting from comparing the result of the following procedure:" "2.4.1. Monthly minimum cash requirement in pesos of deposits and time obligations net of the integration made through the admitted concepts of points 2.1.4. and 2.1.5. in the proportion corresponding to the requirement of these liabilities.
2.4.2. Minimum daily integration requirement in pesos of deposits and time obligations net of the integration made through the admitted concepts of points 2.1.4. and 2.1.5. in the proportion corresponding to the requirement of these liabilities."
…

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"2.5. Remuneration of the balances of foreign currency accounts opened in the Central Bank.
Interest shall be recognized on the proportion of the monthly average of the demand accounts and of the special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations at ATMs and by immediate fund transfers (considered together) corresponding to the integration of the requirement derived from deposits and time obligations, without exceeding the greater of the amounts resulting from comparing the result of the following procedure:" "2.5.1. Monthly minimum cash requirement in the corresponding foreign currency of deposits and time obligations without considering the defect of application of resources in the same currency, with exclusion of the reserve amount corresponding to special deposits linked to the entry of funds from abroad - Decree 616/05."
5. To replace, with effect from 1.4.12, point 6.2. of Section 6. of the rules on "Cooperative credit banks (Law 26.173)", with the following:
"6.2. Particular provisions.
6.2.1. The concepts admitted for the integration of the requirement shall be:
6.2.1.1. Current account in pesos opened in the Central Bank of the Argentine Republic.
6.2.1.2. Current or demand accounts opened in commercial banks for the integration of the minimum cash requirement.
6.2.1.3. Special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations with credit cards, consumer vouchers and at ATMs.
They shall be considered, even when the balances are affected as guarantee of the electronic clearing and settlement houses and deposited in their name, on behalf of the respective entity, in special peso accounts in the Central Bank of the Argentine Republic.
6.2.2. Minimum daily integration.
At a minimum, 50% of the minimum cash requirement determined for the immediately preceding month must be integrated daily with the admitted concepts.
6.2.3. The transfer regime contained in point 1.6. of Section 1. of the rules on "Minimum cash" shall not be applicable."
6. To replace, with effect from 1.4.12, point 2.7. of Section 2. of the rules on "Credit policy", with the following:
"2.7. Application defects.

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The application defects net of the cash balances in the entities, in custody in other financial entities, in transit and in cash transport companies, up to the amount of said defect, shall be subject to an equivalent increase of the minimum cash requirement in the respective foreign currency." " Finally, we send you the sheets that, in replacement of those previously provided, must be incorporated into the rules on "Minimum cash", "Cooperative credit banks (Law 26.173)" and "Credit policy". Likewise, it is recalled that on the page of this Institution www.bcra.gov.ar, accessing "regulations" ("ordered texts"), the modifications made will be found with texts highlighted in special characters (strikethrough and bold). We greet you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Matías A. Gutiérrez Girault Alfredo A. Besio Manager of Issuance of Rules Deputy General Manager of Rules
ANNEX

2.1. Admitted concepts.
The integration must be made in the same currency and/or securities and monetary regulation instruments corresponding to the requirement, except when the mechanism referred to in the last paragraph of point 1.2. of Section 1. is applied, in which case it must be integrated in United States dollars.
2.1.1. Current accounts of financial entities opened in the Central Bank in pesos.
2.1.2. Minimum Cash accounts of financial entities opened in the Central Bank in United States dollars or in other foreign currencies.
2.1.3. Special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations with credit cards, consumer vouchers, at ATMs and by immediate fund transfers.
They shall be considered, even when the balances are affected as guarantee of the electronic clearing houses and deposited in their name, on behalf of the respective entity, in special accounts in the Central Bank of the Argentine Republic.
2.1.4. Current accounts of non-bank financial entities.
Opened in commercial banks for the integration of the minimum cash requirement.
2.1.5. Special current accounts opened in the Central Bank linked to the attention of pension benefits in charge of the National Social Security Administration.
2.1.6. Subaccount 60 minimum cash -which shall be opened automatically-, enabled in the "Central de Registro y Liquidación de Pasivos Públicos y Fideicomisos Financieros - CRYL" of public securities and monetary regulation instruments of the Central Bank, at market value.
2.2. Computation.
Compliance with the minimum cash integration shall be measured on the basis of the monthly average of daily balances of the concepts admitted for that purpose, recorded during the same month to which the minimum cash corresponds, dividing the sum of said balances by the total number of days of the period, except for the period December of one year/February of the following year, in which the integration in pesos shall be observed on the average resulting from dividing the sum of the daily balances of the concepts included recorded during that period by the total number of days of the quarter. On days when no movement is recorded, the balance corresponding to the immediately preceding business day must be repeated. In the case of current accounts opened in commercial banks by non-bank entities, the balances reflected in the account statements shall be taken into account. MINIMUM CASH B.C.R.A.
Section 2. Integration.
Version: 13a. COMMUNICATION "A" 5299
Effective:
01/04/2012

Compensation of deficit positions with surplus positions corresponding to different requirements shall not be admitted.
2.3. Minimum daily integration.
On no day of the month or of the quarterly period -December of one year/February of the following year-, may the sum of the balances of the concepts admitted as integration, recorded at the close of each day, be less than 50% of the total minimum cash requirement, determined for the immediately preceding month, recalculated based on the requirements and concepts in force in the month to which the reserves correspond, without considering the effects of the application of the provisions of point 1.6.1. of Section 1. To determine the minimum daily integration in pesos, in the quarterly position the total minimum cash requirement of November shall be considered and in March the one corresponding to February. Said daily requirement shall be 70% when in the previous computation period an average integration deficiency greater than the admitted transfer margin has been recorded. No minimum daily integration shall be required for deposits in public securities and monetary regulation instruments of the Central Bank.
2.4. Remuneration of the balances of peso accounts opened in the Central Bank.
Interest shall be recognized on the proportion of the monthly average of the daily balances of the current accounts and of the special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations with credit cards, consumer vouchers, at ATMs and by immediate fund transfers (considered together) corresponding to the integration of the requirement derived from deposits and time obligations, without exceeding the greater of the amounts resulting from comparing the result of the following procedure:
2.4.1. Monthly minimum cash requirement in pesos of deposits and time obligations net of the integration made through the admitted concepts of points 2.1.4. and 2.1.5. in the proportion corresponding to the requirement of these liabilities.
2.4.2. Minimum daily integration requirement in pesos of deposits and time obligations net of the integration made through the admitted concepts of points 2.1.4. and 2.1.5. in the proportion corresponding to the requirement of these liabilities.
For the purposes of determining the aforementioned proportion to be imputed, the percentage resulting from comparing the requirement on deposits and time obligations with respect to the total requirement corresponding to the monthly position shall be considered. Therefore, no interest shall be recognized for the integration corresponding to deposits and other demand obligations. MINIMUM CASH B.C.R.A.
Section 2. Integration.
Version: 14a. COMMUNICATION "A" 5299
Effective:
01/04/2012

The determination of the remuneration shall always be made monthly, even in the case of the quarterly position.
Interest shall accrue at the rate to be set and which shall be transmitted through the Exchange and Open Market Operations Desk. In case of modifications during the same month, the weighted average rate based on the number of calendar days of validity in the period shall be used. The amounts shall be credited in the corresponding accounts within 5 business days of validating the presentation of the pertinent information regime.
2.5. Remuneration of the balances of foreign currency accounts opened in the Central Bank.
Interest shall be recognized on the proportion of the monthly average of the demand accounts and of the special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations at ATMs and by immediate fund transfers (considered together) corresponding to the integration of the requirement derived from deposits and time obligations, without exceeding the greater of the amounts resulting from comparing the result of the following procedure:
2.5.1. Monthly minimum cash requirement in the corresponding foreign currency of deposits and time obligations without considering the defect of application of resources in the same currency, with exclusion of the reserve amount corresponding to special deposits linked to the entry of funds from abroad - Decree 616/05.
2.5.2. Minimum daily integration requirement in the corresponding foreign currency of deposits and time obligations without considering the defect of application of resources in the same currency, with exclusion of the reserve amount corresponding to special deposits linked to the entry of funds from abroad - Decree 616/05.
For the purposes of determining the proportion to be imputed, the percentage resulting from comparing the requirement on time deposits with respect to the total requirement (which includes, if any, the defect of application of resources in the corresponding foreign currency) shall be considered. Therefore, no interest shall be recognized for the integration corresponding to deposits and other demand obligations. Interest shall accrue at the rate to be set and which shall be transmitted through the Exchange and Open Market Operations Desk. In case of modifications during the same month, the weighted average rate based on the number of calendar days of validity in the period shall be used. MINIMUM CASH B.C.R.A.
Section 2. Integration.
Version: 20a. COMMUNICATION "A" 5299
Effective:
01/04/2012

The settlement shall be made considering separately each foreign currency account and the requirements on the respective deposits.
The amounts shall be credited in the corresponding accounts within 5 business days of validating the presentation of the pertinent information regime.
MINIMUM CASH B.C.R.A.
Section 2. Integration.
Version: 3a. COMMUNICATION "A" 5299
Effective:
01/04/2012

6.1. Treatment of special deposits linked to the externalization and repatriation of capital on the occasion of Law 26.476.
The defect of application of resources corresponding to peso deposits determined in a month shall be computed for an equivalent amount in the calculation of the minimum cash requirement in pesos of 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 that end, they must be considered in the calculations of the remuneration of the balances of the accounts opened in the Central Bank -points 2.4. and 2.5., respectively-.
6.2. Minimum daily integration in foreign currency.
From 1.11.11 the defect of application of resources in that species (point 1.7.) shall be excluded from the calculation base of the minimum daily integration requirement in foreign currency.
6.3. From 1.4.12, for the peso position, financial entities deduct from the average minimum cash requirement, the amount corresponding to the integration made in March 2012 with cash, cash in transit and in cash transport companies, after computing the remaining items admitted as integration and without exceeding the amount necessary to reach the equilibrium position (without excess or defect).
6.4. The deduction established in the preceding point shall not be considered for the purposes of determining the minimum daily integration in pesos contemplated in point 2.3. of the rules on "Minimum cash".
MINIMUM CASH B.C.R.A.
Section 6. Transitional provisions.
Version: 10a. COMMUNICATION "A" 5299
Effective:
01/04/2012

MINIMUM CASH
ORDERED TEXT SOURCE RULE
Sec. Point Para. Comm. Annex Sec. Point Para.
OBSERVATIONS
1.3.12. "A" 4179 2. According to Comm. "A" 4406,
4449, 4707 and 4851.
1.3.13. "A" 4360 2.
1.3.14. "A" 4473 1. According to Comm. "A" 4518,
4532, 4573, 4670 and 4754.
1.3.15. "A" 4754 6.
1.4. "A" 3905 3. According to Comm. "A" 4179,
4449 and 4473.
1.5. "A" 3274 II 1. 1.5. According to Comm. "A" 3498.
1.6. "A" 3274 II 1. 1.6.
1.6.1. "A" 3274 II 1. 1.6.1. According to Comm. "A" 4405 and
4449.
1.6.2. "A" 3274 II 1. 1.6.2. According to Comm. "A" 3304 and
4449.
1.
1.7. "A" 3498 unique 1. 1.8. According to Comm. "A" 4147.
2.1. "A" 3274 II 2. 2.1. According to Comm. "A" 3498,
3597, 4716 (includes interpretive clarification), 4815 and "B" 9186.
2.1.1. "A" 3274 II 2. 2.1.2. According to Comm. "A" 3304,
3498, 4016 and 4147.
2.1.2. "A" 3498 unique 2. 2.1.3. According to Comm. "A" 4147.
2.1.3. "A" 3274 II 2. 2.1.3. According to Comm. "A" 3498,
4147, 4276 and 5194.
2.1.4. "A" 3274 II 2. 2.1.4.
2.1.5. "A" 4016 1.
2.1.6. "A" 4716 2. According to Comm. "B" 9186.
2.2. "A" 3274 II 2. 2.2. According to Comm. "A" 3498,
4449, 4716 and 5299.
2.3. "A" 3365 2. According to Comm. "A" 3387,
3470, 3498, 3549, 3597,
3732, 3824, 4016, 4449,
4716, 5152, 5299 and "B"
9186.
2.4. "A" 4147 3. According to Comm. "A" 4276,
4449, 4509, 5152 and 5299.
2.
2.5. "A" 4147 3. According to Comm. "A" 4393,
4509, 4716 and 5299.
3.1. "A" 3274 II 3. 3.1.
3.1.1. "A" 3274 II 3. 3.1.1. According to Comm. "A" 3326,
3365, 3498, 3549, 3905,
4276, 4449, 4473, 4707,
4716, 4862 and "B" 9186.
3.1.2. "A" 3274 II 3. 3.1.2.
3.1.3. "A" 3274 II 3. 3.1.3. According to Comm. "A" 3326.
3.
3.1.4. "A" 3274 II 3. 3.1.4.

MINIMUM CASH
ORDERED TEXT SOURCE RULE
Sec. Point Para. Comm. 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" 4916
6.2. "A" 5246 3.
6.3. "A" 5299 2.
6.
6.4. "A" 5299 3.

6.1. General concept.
The provisions established in the matter with general character, contained in the rules on "Minimum cash", shall be applied, with the following particularities:
6.2. Particular provisions.
6.2.1. The concepts admitted for the integration of the requirement shall be:
6.2.1.1. Current account in pesos opened in the Central Bank of the Argentine Republic.
6.2.1.2. Current or demand accounts opened in commercial banks for the integration of the minimum cash requirement.
6.2.1.3. Special guarantee accounts in favor of the electronic clearing houses and for the coverage of the settlement of operations with credit cards, consumer vouchers and at ATMs.
They shall be considered, even when the balances are affected as guarantee of the electronic clearing and settlement houses and deposited in their name, on behalf of the respective entity, in special peso accounts in the Central Bank of the Argentine Republic.
6.2.2. Minimum daily integration.
At a minimum, 50% of the minimum cash requirement determined for the immediately preceding month must be integrated daily with the admitted concepts.
6.2.3. The transfer regime contained in point 1.6. of Section 1. of the rules on "Minimum cash" shall not be applicable.
B COOPERATIVE CREDIT BANKS (LAW 26.173)
.C.R.A.
Section 6. Minimum cash.
Version: 2a. COMMUNICATION "A" 5299
Effective:
01/04/2012

ORDERED TEXT SOURCE STANDARD

Sec.	Point	Para.	Com.	Annex	Chap.	Sec.	Point	Para.	OBSERVATIONS
1.1.	"A" 4712		Sole	1.		1.1.
1.2.	"A" 4712		Sole	1.		1.2.
1.3.	"A" 4712		Sole	1.		1.3.			According to Com. "A" 5168 and 5248.
1.4.	"A" 4712		Sole	1.		1.4.
1.5.	"A" 4712		Sole	1.		1.5.			According to Com. "A" 5248.
1.6.	"A" 4712		Sole	1.		1.6.
1.
1.7.	"A" 4712		Sole	1.		1.7.
2.1.	"A" 4712		Sole	2.		2.1.			According to Com. "A" 5272.
2.2.	"A" 4712		Sole	2.		2.2.
2.3.	"A" 4712		Sole	2.		2.3.
2.4.	"A" 4712		Sole	2.		2.4.			According to Com. "A" 5168.
2.5.	"A" 4712		Sole	2.		2.5.			According to Com. "B" 9186 and "A" 5067 and 5275.
2.6.	"A" 4712		Sole	2.		2.6.			According to Com. "A" 5272.
2.7.	"A" 4712		Sole	2.		2.7.			According to Com. "A" 4972 (point 9.).
2.8.	"A" 4712		Sole	2.		2.8.
2.
2.9.	"A" 4712		Sole	2.		2.9.
3.1.	"A" 4712		Sole	3.		3.1.
3.2.	"A" 4712		Sole	3.		3.2.
3.3.	"A" 4712		Sole	3.		3.3.			According to Com. "A" 4809, 5091 and 5164.
3.4.	"A" 4712		Sole	3.		3.4.
3.5.	"A" 4712		Sole	3.		3.5.
3.6.	"A" 4712		Sole	3.		3.6.
3.
3.7.	"A" 4712		Sole	3.		3.7.
4.1.	"A" 4712		Sole	4.		4.1.
4.2.	"A" 4712		Sole	4.		4.2.
4.3.	"A" 4712		Sole	4.		4.3.			According to Com. "A" 4891 (points 9. to 12.).
4.4.	"A" 4712		Sole	4.		4.4.
4.5.	"A" 4712		Sole	4.		4.5.
4.6.	"A" 4712		Sole	4.		4.6.
4.7.	"A" 4712		Sole	4.		4.7.
4.
4.8.	"A" 4712		Sole	4.		4.8.			According to Com. "B" 9186 and "A" 4972 (point 6.).
5.1.	"A" 4712		Sole	5.		5.1.			According to Com. "A" 5275.
5.2.	"A" 4712		Sole	5.		5.2.			According to Com. "A" 5067 and 5275.
5.3.	"A" 4712		Sole	5.		5.3.
5.4.	"A" 4712		Sole	5.		5.4.
5.5.	"A" 4712		Sole	5.		5.5.			According to Com. "A" 5067 and 5275.
5.6.	"A" 4712		Sole	5.		5.6.
5.
5.7.	"A" 4712		Sole	5.		5.7.
6.1.	"A" 4712		Sole	6.		6.1.
6.2.	"A" 4712		Sole	6.		6.2.			According to Com. "A" 5299.
6.
6.3.	"A" 4712		Sole	6.		6.3.

B.C.R.A.

ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE RULES ON "COOPERATIVE CREDIT UNIONS (LAW 26.173)"

The computation of assets and liabilities shall be made on the basis of the monthly average of daily balances (principal and interest) recorded in each calendar month.

Financings shall be allocated net of the allowances for uncollectibility and impairment risks attributable to them and, where applicable, of the "difference for portfolio acquisition".

2.7. Application defects.

Application defects net of cash balances held at the entities, in custody at other financial institutions, in transit and at cash transport companies, up to the amount of said defect, shall be subject to an equivalent increase in the minimum cash requirement in the respective foreign currency.

B.C.R.A. CREDIT POLICY

Section 2. Application of the lending capacity of foreign currency deposits.

Version: 2nd. COMMUNICATION "A" 5299

Effective:
01/04/2012

ORDERED TEXT	SOURCE STANDARD	OBSERVATIONS
Sect.	Point	Para.	Com.	Annex	Chap.	Sect.	Point	Para.
1.1.	"A" 49 OPRAC-1			I		1.1.
1.2.	"A" 4311								Includes concept according to points 6. and 7.5. of Com. "A" 2736. According to Com. "C" 50798, "A" 4851 and 5067.
1.
1.3.	"A" 49 OPRAC-1			I		1.2.
2.1.	"A" 3528			1.					According to Com. "A" 4147, Annex.
2.1.1.	1st	"A" 3528			1.1.				According to Com. "A" 4015, 4311, 4423 and 4851.
2.1.2.		"A" 4015			1.2.				Includes interpretative clarification and Com. "A" 4851.
2.1.3.		"A" 4015			1.3.
2.1.4.		"A" 4423
2.1.5.		"A" 4453							According to Com. "A" 4577.
2.1.6.		"A" 4011			1.4.	1st			According to Com. "A" 4015, 4311 and 4851.
2.1.7.		"A" 4168			1.				According to Com. "A" 4465, 4851 and 5275.
2.1.8.		"A" 4015			1.4.	last			According to Com. "A" 4311 and 4851.
2.1.9.		"A" 3528			1.2.				According to Com. "A" 4140 and 4311.
2.1.	last	"A" 4851			4.
2.2.		"A" 4015			1.	2nd			According to Com. "A" 4311, 4453 and 4577.
2.3.		"A" 4015			1.	3rd
2.4.		"A" 4311
2.5.		"A" 4311
2.6.	1st	"A" 3528			1.	2nd			According to Com. "A" 4015 and 4147.
2.6.	2nd and last	"A" 4159			3.1.	5th and last			Section 3. of the informative regime on minimum cash and application of resources. Includes interpretative clarification.
2.
2.7.		"A" 3528			1.	3rd			According to Com. "A" 4015, 4140, 4549, 4716 and 5299.
3.	3.1.	"A" 4140			II	1.	2nd
3.2.		"A" 4311							Includes concept according to points 6. and 7.5. of Com. "A" 2736.
4.	4.1.	"A" 4311
5.	5.1.	"A" 4311
5.2.		"A" 4311							According to Com. "A" 5093.

B.C.R.A.

ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE RULES ON "CREDIT POLICY"