Circular REMON 1 - 906: Minimum Cash Requirements. Adjustments.

“2016 - Year of the Bicentennial of the Declaration of National Independence” COMMUNICATION “A” 5893 21/01/2016 TO FINANCIAL ENTITIES:
Ref.: Circular
REMON 1 - 906
Minimum Cash. Adjustments.

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We address you to inform you that this Institution adopted the resolution that, in its pertinent part, provides:

“1. Substitute, with effect from 1.2.16, points 1.3.2.2., 1.3.3.2., 1.3.4.2., 1.3.7.2., section b) of point 1.3.9., 1.3.11.2. and 1.3.12.2. of the rules on “Minimum Cash”, with the following:

Rates in %
Concept Category I Categories II to VI
1.3.2. Deposits in savings accounts, basic accounts and universal free accounts.
“1.3.2.2. In foreign currency. 20 20”

1.3.3. Pupilary usuries, special accounts for closed circles, severance fund for workers in the construction industry, salary/social security accounts, special current accounts for legal entities and savings accounts for the payment of social aid plans or programs.
“1.3.3.2. In foreign currency. 20 20”

1.3.4. Other deposits and demand liabilities, pension benefits credited by ANSES pending cashing and immobilized balances corresponding to obligations included in these rules.
“1.3.4.2. In foreign currency. 20 20”

1.3.7. Time deposits, obligations from “acceptances” -including liabilities from the sale or assignment of credits to subjects other than financial entities-, passive repos, guarantees and passive stock market repos, investments with constant term, with option for early cancellation or renewal for a determined term and with variable remuneration, and other term obligations with the exception of deposits included in points 1.3.11. to 1.3.14., according to their residual term:
“1.3.7.2. In foreign currency. i) Up to 29 days. 20 20 ii) From 30 to 59 days. 15 15 iii) From 60 to 89 days. 10 10 iv) From 90 to 179 days. 5 5 v) From 180 to 365 days. 2 2 vi) More than 365 days. 0 0”

1.3.9. Debt securities (including negotiable obligations), according to their residual term:
“b) In foreign currency i) Up to 29 days. 20 20 ii) From 30 to 59 days. 15 15 iii) From 60 to 89 days. 10 10 iv) From 90 to 179 days. 5 5 v) From 180 to 365 days. 2 2 vi) More than 365 days. 0 0”

1.3.11. Demand and time deposits made by order of the Judiciary with funds originated in the cases in which it intervenes, and their immobilized balances.
“1.3.11.2. In foreign currency. 10 10”

1.3.12. Deposits -whatever their modality- that constitute the equity of common investment funds.
“1.3.12.2. In foreign currency. 20 20”

2. Revoke, with effect for liabilities captured from 1.2.16, point 1.6. of the rules on “Minimum Cash.””

Finally, we send you the sheets that, in replacement of those previously provided, will need to be incorporated into the rules on “Minimum Cash” and “Cooperative Credit Unions (Law 26.173)”. Likewise, it is recalled that on this Institution’s website www.bcra.gob.ar, accessing “Legal and Regulatory Framework - Ordered Texts - Normative Orders”, 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 Agustín Torcassi
Manager of Emission of Norms
Deputy General Manager of Norms

ANNEX

-Index
Section 1. Requirement.
1.1. Obligations included.
1.2. Application base.
1.3. Minimum cash.
1.4. Residual term.
1.5. Decrease in the requirement in average pesos.
1.6. Punctual increases in requirement due to liability concentration.
1.7. Transfers.
1.8. Defect in the application of resources in foreign currency.
1.9. Increase in the requirement due to non-compliance with the rules on “Line of credits for productive investment”.
Section 2. Integration.
2.1. Admitted concepts.
2.2. Computation.
2.3. Minimum daily integration.
2.4. Remuneration of balances of peso accounts opened at the Central Bank.
2.5. Remuneration of balances of foreign currency accounts opened at the Central Bank.
Section 3. Non-compliance.
3.1. Charge.
3.2. Framing programs.
3.3. Regularization and sanitation plans.
Section 4. Base for observance of the rules.
4.1. Individual base.
Section 5. Responsible parties and sanctions.
5.1. Responsible for liquidity policy.
5.2. Responsibilities.
5.3. Sanctions.
Section 6. Transitional provisions.
Correlation table.
B.C.R.A.
ORDERED TEXT OF THE RULES ON
“MINIMUM CASH”
Version: 33rd COMMUNICATION “A” 5893
Validity:
01/02/2016

When the use of information from periods prior to the computation period (e.g. residual term structure, minimum daily integration, etc.) is required and the financial entity lacks it because it did not operate in those periods (as is the case for new entities authorized to operate), the information from the computation period shall be used.

1.3. Minimum cash.
The minimum cash amounts resulting from applying the following rates shall be integrated, which, in the case of operations in pesos, will depend on the category to which the locality where the operating headquarters is located belongs, in which the operations are carried out, in accordance with what is established in point 3.3. of Section 3., Chapter II of Circular CREFI - 2:

MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Rates in %
Concept Category I Categories II to VI
1.3.1. Deposits in current accounts and demand accounts opened in cooperative credit unions.
17 15
1.3.2. Deposits in savings accounts, basic accounts and universal free accounts.
1.3.2.1. In pesos. 17 15
1.3.2.2. In foreign currency. 20 20
1.3.3. Pupilary usuries, special accounts for closed circles, severance fund for workers in the construction industry, salary/social security accounts, special current accounts for legal entities and savings accounts for the payment of social aid plans or programs.
1.3.3.1. In pesos. 17 15
1.3.3.2. In foreign currency. 20 20
1.3.4. Other deposits and demand liabilities, pension benefits credited by ANSES pending cashing and immobilized balances corresponding to obligations included in these rules.
1.3.4.1. In pesos. 17 15
1.3.4.2. In foreign currency. 20 20
Version: 42nd COMMUNICATION “A” 5893
Validity:
01/02/2016

MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Rates in %
Concept
Category I Categories II to VI
1.3.5. Unused balances of formalized current account advances.
17 15
1.3.6. Deposits in current accounts of non-bank financial entities, computable for the integration of their minimum cash.
100 100
1.3.7. Time deposits, obligations from “acceptances” -including liabilities from the sale or assignment of credits to subjects other than financial entities-, passive repos, guarantees and passive stock market repos, investments with constant term, with option for early cancellation or renewal for a determined term and with variable remuneration, and other term obligations with the exception of deposits included in points 1.3.11. to 1.3.14., according to their residual term:
1.3.7.1. In pesos.
i) Up to 29 days. 13 12 ii) From 30 to 59 days. 10 9 iii) From 60 to 89 days. 6 5 iv) From 90 to 179 days. 1 0 v) From 180 days or more. 0 0 Deposits with “CER” clause are included in this point.
1.3.7.2. In foreign currency.
i) Up to 29 days. 20 20 ii) From 30 to 59 days. 15 15 iii) From 60 to 89 days. 10 10 iv) From 90 to 179 days. 5 5 v) From 180 to 365 days. 2 2 vi) More than 365 days. 0 0
1.3.8. Obligations from financial lines from abroad (not instrumented through time deposits or debt securities to which the requirements provided in points 1.3.7. and 1.3.9., respectively, apply).
0 0
Version: 32nd COMMUNICATION “A” 5893
Validity:
01/02/2016

MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Rates in %
Concept
Category I Categories II to VI
1.3.9. Debt securities (including negotiable obligations), according to their residual term:
a) In pesos. i) Up to 29 days. 14 14 ii) From 30 to 59 days. 11 11 iii) From 60 to 89 days. 7 7 iv) From 90 to 179 days. 2 2 v) From 180 days or more. 0 0 b) In foreign currency. i) Up to 29 days. 20 20 ii) From 30 to 59 days. 15 15 iii) From 60 to 89 days. 10 10 iv) From 90 to 179 days. 5 5 v) From 180 to 365 days. 2 2 vi) More than 365 days. 0 0
1.3.10. Obligations with the Fiduciary Fund for Assistance to Financial and Insurance Entities.
0 0
1.3.11. Demand and time deposits made by order of the Judiciary with funds originated in the cases in which it intervenes, and their immobilized balances.
1.3.11.1. In pesos. 10 10
1.3.11.2. In foreign currency. 10 10
1.3.12. Deposits -whatever their modality- that constitute the equity of common investment funds.
1.3.12.1. In pesos. 19 19
1.3.12.2. In foreign currency. 20 20
1.3.13. Special deposits linked to the inflow of funds from abroad - Decree 616/05.
100 100
1.3.14. Term investments instrumented in non-transferable named certificates, in pesos, corresponding to holders of the public sector who have the right to exercise the option of early cancellation in a term of less than 30 days counted from their constitution.
15 14
Version: 30th COMMUNICATION “A” 5893
Validity:
01/02/2016

To this effect, the balance of the financed amounts reached in the period prior to the computation of the requirement that meet the stated requirements shall be considered.

1.5.5.2. To non-financial companies issuing credit cards at an interest rate of 0%, insofar as those companies have adhered to the “AHORA 12” Program.
To this effect, the financings of the period prior to the computation of the requirement, measured in average monthly daily balances, shall be considered. The financial entity shall require and have documentation that certifies that the service company has destined the funds to grant financings under the conditions of the cited Program. This deduction, furthermore, may not exceed 1% of the peso concepts subject to requirement, on average, of the month prior to the computation. The total decrease in the requirement -resulting from considering what is provided in points 1.5.1. to 1.5.5. jointly- may not exceed the amount of the previously determined requirement.

1.6. Punctual increases in requirement due to liability concentration.
When an excessive concentration of liabilities (in holders and/or terms) is verified, which implies a significant risk regarding the individual liquidity of the financial entity and/or has an important negative effect on systemic liquidity, additional minimum cash requirements may be set on the liabilities included in the financial entity and/or those complementary measures that are deemed pertinent. It will be considered that this situation is configured when, among others, any of the following factors are present:

• A high percentage of liabilities is concentrated in the same holder or holders.
• In term obligations, the term is short.
• The aforementioned liabilities represent a significant percentage regarding the integration of the minimum cash and/or the total deposits of the private sector in the entity.

1.7. Transfers.
1.7.1. Admitted margin.
The integration of the minimum cash of the positions in average monthly or quarterly daily balances of the included obligations may not be lower than 80% of the requirement resulting from the following expression:
EEMA (n) = EEF (n) + ENI (n-1)
MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Version: 10th COMMUNICATION “A” 5893
Validity:
01/02/2016

Where
EEMA (n): adjusted minimum cash requirement corresponding to period “n”.
EEF (n): minimum cash requirement according to current rules corresponding to period “n”.
ENI (n-1): requirement not integrated in period “n-1”.
Period: month or quarter, as applicable.

1.7.2. Period of use.
The admitted transfer of the requirement not integrated in each period to the next position may be carried out up to a maximum of six periods, counted from the first period (inclusive) in which the option to use it is chosen in accordance with what is provided above or from the first position immediately subsequent to that in which the transferred defects are compensated or a charge is paid on them. For its calculation, the transferred numerals from the period to which they correspond, divided by the number of days of the period to which the transfer is made, shall be computed.

1.8. Defect in the application of resources in foreign currency.
The defect in the application of resources corresponding to foreign currency deposits that is determined in a month shall be computed by an equivalent amount in the calculation of the minimum cash requirement of that same period of the respective currency.

1.9. Increase in the requirement due to non-compliance with the rules on “Line of credits for productive investment”.
The defect in the application of Quota 2013 verified -on 1.7.13 or 1.1.14, as the case may be, when it concerns the first tranche and 1.1.14 or 1.7.14, as the case may be, when it concerns the second tranche- shall be computed by an equivalent amount in the calculation of the minimum cash requirement in average pesos, from those dates and for 24 months. The defect in the application of Quota 2014 verified -on 1.7.14 or 1.1.15, as the case may be, when it concerns the first tranche and on 1.1.15 or 1.7.15, as the case may be, when it concerns the second tranche- shall be computed by an equivalent amount in the calculation of the minimum cash requirement in average pesos, from those dates and for 24 months. The non-compliance with what is provided by the second paragraph of point 3.5.3.2. of the rules on “Line of credits for productive investment” (register by 30.9.14 agreements for at least 50% of the total amount of the second tranche of Quota 2014 and at least 50% to MiPyMEs) will generate an increase in the minimum cash requirement in average pesos by an equivalent amount from the day following its verification (1.10.14) for 3 months. MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Version: 4th COMMUNICATION “A” 5893
Validity:
01/02/2016

The non-compliance with what is provided by the third paragraph of point 3.5.4.1. of the rules on “Line of credits for productive investment” (register by 31.3.15 agreements for at least 30% of the total amount of the first tranche of Quota 2015) will generate an increase in the minimum cash requirement in average pesos by an equivalent amount from the day following its verification (1.4.15) for 3 months. The non-compliance with what is provided by the third paragraph of point 3.5.4.2. of the rules on “Line of credits for productive investment” (register by 30.9.15 agreements for at least 30% of the total amount of the second tranche of Quota 2015) will generate an increase in the minimum cash requirement in average pesos by an equivalent amount from the day following its verification (1.10.15) for 3 months. The defect in the application of the second tranche of Quota 2015 verified -on 1.4.16 or 1.7.16, as the case may be- shall be computed by an equivalent amount in the calculation of the minimum cash requirement in average pesos, from those dates and for 24 months. This, without prejudice to what is provided in point 8.3. of the rules on “Line of credits for productive investment”. MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Version: 6th COMMUNICATION “A” 5893
Validity:
01/02/2016

Compensation of deficit positions with surplus positions corresponding to different requirements will not be admitted.

2.3. Minimum daily integration.
On no day of the month or the quarterly period -December of one year/February of the following year-, the sum of the balances of the concepts admitted as integration, registered at the close of each day, may be lower than 50% of the total minimum cash requirement, determined for the immediate previous 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 what is provided in point 1.7.1. 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. This daily requirement will be 70% when a deficiency in integration on average greater than the admitted transfer margin has been registered in the previous computation period. No minimum daily integration will be required for deposits in public titles and monetary regulation instruments of the Central Bank.

2.4. Remuneration of balances of peso accounts opened at the Central Bank.
Interest will be recognized on the proportion of the average monthly daily balances of the current accounts and special guarantee accounts in favor of the electronic clearing chambers and for the coverage of the settlement of operations with credit cards, consumption vouchers, in ATMs and by immediate fund transfers (considered together) corresponding to the integration of the requirement derived from deposits and term 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 term obligations net of the integration carried out 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 term obligations net of the integration carried out 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 purpose of determining the aforementioned proportion to be imputed, the percentage resulting from comparing the requirement on deposits and term obligations with respect to the total requirement corresponding to the monthly position shall be considered. Therefore, no interest will be recognized for the integration corresponding to deposits and other demand obligations. MINIMUM CASH B.C.R.A.
Section 2. Integration.
Version: 17th COMMUNICATION “A” 5893
Validity:
01/02/2016

ORDERED TEXT ORIGIN OF THE RULE
Sec. Point Para. Com. Annex Sec. Point Para.
OBSERVATIONS
1.1. “A” 3274 II 1. 1.1.
1.1.1. “A” 3274 II 1. 1.1.1. According to Comm. “A” 3498.
1.1.2. “A” 3274 II 1. 1.1.2. According to Comm. “A” 3597, 4815 and “B” 9186.
1.1.3. “A” 3274 II 1. 1.1.3. According to Comm. “A” 3498, 3905 and 4473.
1.2. “A” 3274 II 1. 1.2. According to Comm. “A” 3304, 3498, 3597, 4449, 4716 (includes interpretative clarification), 4815, 5471 and “B” 9186.
1.3. “A” 3274 II 1. 1.3. According to Comm. “A” 5356.
1.3.1. “A” 3274 II 1. 1.3.1. According to Comm. “A” 3338, 3417, 3498, 3597, 3917, 3967, 4032, 4051, 4147, 4276, 4449, 4473, 4509, 4549, 4602, 4712, 5108 and 5356.
1.3.2. “A” 3274 II 1. 1.3.2. According to Comm. “A” 3338, 3417, 3498, 3597, 3917, 3967, 4032, 4051, 4147, 4179, 4276, 4449, 4473, 4509, 4549, 4602, 4809, 4851, 5164, 5356, 5534, 5555, 5569, 5873 and 5893.
1.3.3. “A” 3274 II 1. 1.3.3. According to Comm. “A” 3338, 3399, 3417, 3498, 3597, 3824, 3917, 3967, 4032, 4051, 4147, 4179, 4276, 4449, 4473, 4509, 4549, 4602, 4754, 4851, 5007, 5091, 5234, 5356, 5534, 5555, 5569, 5873 and 5893.
1.3.4. “A” 3274 II 1. 1.3.4. According to Comm. “A” 3338, 3417, 3498, 3597, 3917, 3967, 4032, 4051, 4147, 4179, 4276, 4449, 4473, 4509, 4549, 4602, 4851, 5356, 5534, 5555, 5569, 5873 and 5893.
1.3.5. “A” 3274 II 1. 1.3.5. According to Comm. “A” 3338, 3417, 3498, 3597, 3917, 3967, 4032, 4051, 4147, 4276, 4449, 4509, 4549 and 5356.
1.3.6. “A” 3274 II 1. 1.3.7. According to Comm. “A” 5356.
1.3.7. “A” 3498 unique 1. 1.3.8. According to Comm. “A” 3506 (pt. 2.), 3549, 3732, 3824, 3905, 3917, 3925, 3967, 4032, 4140, 4179, 4276, 4360 (pt. 3.), 4449, 4549, 4602, 4754, 4851, 5356, 5534, 5555, 5569, 5873 and 5893.
1.
1.3.8. “A” 3498 unique 1. 1.3.11. According to Comm. “A” 3597, 3732, 4032 and 5356.
B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “MINIMUM CASH”

MINIMUM CASH
ORDERED TEXT ORIGIN OF THE RULE
Sec. Point Para. Com. Annex Sec. Point Para.
OBSERVATIONS
1.3.9. “A” 3498 unique 1. 1.3.12. According to Comm. “A” 3905, 3917, 3967, 4032, 4179, 4276, 4449, 4549, 4851, 5356, 5534, 5555, 5569, 5873 and 5893.
1.3.10. “A” 3549 1.
1.3.11. “A” 3549 1. According to Comm. “A” 4179, 4388, 4549, 4851, 5356, 5534, 5555, 5569, 5873 and 5893.
1.3.12. “A” 4179 2. According to Comm. “A” 4406, 4449, 4707, 4851, 5356, 5534, 5555, 5569, 5873 and 5893.
1.3.13. “A” 4360 2. According to Comm. “A” 5356.
1.3.14. “A” 4754 6. According to Comm. “A” 5356.
1.4. “A” 3905 3. According to Comm. “A” 4179, 4449, 4473, 5671 and 5740. Includes interpretative clarification.
1.5. “A” 5356 2. According to Comm. “A” 5471.
1.5.1. “A” 5356 2. According to Comm. “A” 5471 and 5623.
1.5.2. “A” 5471 1. According to Comm. “A” 5623.
1.5.3. “A” 5623 2.
1.5.4. “A” 5524
1.5.5. “A” 5631 1. According to Comm. “A” 5638.

1. last “A” 5623 4. According to Comm. “A” 5631.
   1.6. “A” 3274 II 1. 1.5. According to Comm. “A” 3498.
   1.7. “A” 3274 II 1. 1.6.
   1.7.1. “A” 3274 II 1. 1.6.1. According to Comm. “A” 4405 and 4449.
   1.7.2. “A” 3274 II 1. 1.6.2. According to Comm. “A” 3304 and 4449.
   1.8. “A” 3498 unique 1. 1.8. According to Comm. “A” 4147.
   1.
   1.9. “A” 5380 According to Comm. “A” 5449, 5516, 5600, 5654 and 5771. Includes interpretative clarification.
   2.1. “A” 3274 II 2. 2.1. According to Comm. “A” 3498, 3597, 4716 (interpretative 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.
   2.2. “A” 3274 II 2. 2.2. According to Comm. “A” 3498, 4449, 4716 and 5299.

6.1. General concept.
The provisions established in the matter in general, contained in the rules on “Minimum Cash”, will apply, with the following particularities:

6.2. Particular provisions.
6.2.1. The concepts admitted for the integration of the requirement will be:
6.2.1.1. Current account in pesos opened at the Central Bank of the Argentine Republic.
6.2.1.2. Current accounts 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 chambers and for the coverage of the settlement of operations with credit cards, consumption vouchers and in ATMs.
They will be considered, even when the balances are affected as guarantee of the electronic clearing chambers and settlement and deposited in their name, on behalf of the respective entity, in special peso accounts at the Central Bank of the Argentine Republic.
6.2.2. Minimum daily integration.
As a minimum, 50% of the minimum cash requirement determined for the immediate previous month must be integrated daily with the admitted concepts.
6.2.3. The transfer regime contained in point 1.7. of the rules on “Minimum Cash” will not be applicable.
B COOPERATIVE CREDIT UNIONS (LAW 26.173)
.C.R.A.
Section 6. Minimum Cash.
Version: 4th COMMUNICATION “A” 5893
Validity:
01/02/2016

COOPERATIVE CREDIT UNIONS (LAW 26.173)
ORGANIZING NORM

Section Point Para. Com. Annex Cap. Sec. Point Para.
OBSERVATIONS

6.1. “A” 4712 Unique 6. 6.1.
6.2. “A” 4712 Unique 6. 6.2. Com. “A” 5299, 5534
and 5893.
6.
6.3. “A” 4712 Unique 6. 6.3.
7.1. “A” 4712 Unique 7. 7.1.
7.2. “A” 4712 Unique 7. 7.2.
7.3. “A” 4712 Unique 7. 7.3.
7.4. “A” 4712 Unique 7. 7.4.
7.5. “A” 4712 Unique 7. 7.5.
7.
7.6. “A” 4712 Unique 7. 7.6.
8. 8.1. “A” 4712 Unique 8. 8.1.
8.2. “A” 4712 Unique 8. 8.2.
9.1. “A” 4712 Unique 9. 9.1.
9.2. “A” 4712 Unique 9. 9.2.
9.3. “A” 4712 Unique 9. 9.3.
9.4. “A” 4712 Unique 9. 9.4.
9.5. “A” 4712 Unique 9. 9.5.
9.6. “A” 4712 Unique 9. 9.6.
9.7. “A” 4712 Unique 9. 9.7.
9.8. “A” 4712 Unique 9. 9.8.
9.9. “A” 4712 Unique 9. 9.9.
9.10. “A” 4712 Unique 9. 9.10.
9.11. “A” 4712 Unique 9. 9.11.
9.12. “A” 4712 Unique 9. 9.12.
9.
9.13. “A” 4712 Unique 9. 9.13.
10.1. “A” 4712 Unique 10. 10.1.
10.1.1.2. “A” 4712 Unique 10. 10.1.1.2. Com. “A” 5520.
10.2. “A” 4712 Unique 10. 10.2. Com. “A” 5520.
10.3. “A” 4712 Unique 10. 10.3.
10.4. “A” 4712 Unique 10. 10.4.
10.
10.5. “A” 4712 Unique 10. 10.5.
11.1. “A” 4712 Unique 11. 11.1. Com. “A” 5164.
11.2. “A” 4712 Unique 11. 11.2.
11.3. “A” 4712 Unique 11. 11.3.
11.4. “A” 4712 Unique 11. 11.4.
11.
11.5. “A” 4712 Unique 11. 11.5.