Circular REMON 1 - 921: Minimum Cash Requirements. Adjustments

COMMUNICATION "A" 6195 02/03/2017 TO FINANCIAL INSTITUTIONS:
Ref.: Circular
REMON 1 - 921
Minimum cash. Adjustments.

---

We address you to inform you that this Institution adopted the resolution which, in its pertinent part, provides:
"- Reduce, with effect from 1.3.17, by two percentage points those rates higher than 2% – except those provided in points 1.3.6., 1.3.12. and 1.3.14. –, to determine the minimum cash requirement in pesos provided in point 1.3. of the rules on "Minimum cash"." On the other hand, we send you in an annex the pages that, replacing those previously provided, should be incorporated into the rules on "Minimum cash". Likewise, it is recalled that on the page of this Institution www.bcra.gob.ar, accessing "Financial and Payment Systems - LEGAL AND REGULATORY FRAMEWORK - Compilations and summaries - Ordered texts of general regulations", you will find the modifications made with texts highlighted in special characters (strikethrough and bold). We greet you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Matías A. Gutiérrez Girault Darío C. Stefanelli Manager of Issuance of Rules Principal Manager of Issuance and Regulatory Applications
ANNEX

When the use of information from periods prior to the computation period is required (e.g. residual maturity structure, minimum daily integration, etc.) and the financial institution lacks it because it did not operate in those periods (such is the case of new entities authorized to operate), the information from the computation period must be used.
1.3. Minimum cash.
The minimum cash amounts arising from applying the following rates must be integrated, which, in the case of peso operations, will depend on the category to which the locality in which the operating office where they are made is located belongs, in accordance with the provisions of point 3.3. of Section 3., Chapter II of Circular CREFI - 2:
MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Version: 45a. COMMUNICATION "A" 6195 Effective:
01/03/2017
Rates in %
Concept
Category I Categories
II to VI
1.3.1. Demand deposits and demand accounts
opened in cooperative credit unions.
20 18
1.3.2. Savings deposits, salary and special accounts.
1.3.2.1. In pesos. 20 18
1.3.2.2. In foreign currency. 25 25
1.3.3. Usuras pupilares, special accounts for closed circles, labor termination fund for workers
in the construction industry, salary/social security account, special current accounts for legal persons and savings accounts for the payment of social aid plans or programs.
1.3.3.1. In pesos. 20 18
1.3.3.2. In foreign currency. 25 25
1.3.4. Other demand deposits and obligations, pension assets credited by ANSES pending
effectiveness and immobilized balances corresponding to obligations included in these rules.
1.3.4.1. In pesos. 20 18
1.3.4.2. In foreign currency. 25 25

Rates in %
Concept
Category I Categories
II to VI
1.3.5. Unused balances of formalized current account advances.
20 18
1.3.6. Demand deposits of non-bank financial institutions, computable for the integration
of their minimum cash.
100 100
1.3.7. Time deposits, obligations for "acceptances" – including responsibilities for sale or
transfer of credits to subjects other than financial institutions –, passive repos, collateral and passive stock exchange repos, constant-term investments, with early cancellation or renewal option for a determined term and with variable remuneration, and other term obligations with the exception of deposits included in points 1.3.11. to 1.3.13., according to their residual term:
1.3.7.1. In pesos.
i) Up to 29 days. 14 13 ii) From 30 to 59 days. 10 9 iii) From 60 to 89 days. 5 4 iv) From 90 to 179 days. 1 0 v) From 180 days or more. 0 0
1.3.7.2. In foreign currency.
i) Up to 29 days. 23 23 ii) From 30 to 59 days. 17 17 iii) From 60 to 89 days. 11 11 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 for foreign financial lines (not
instrumented through time deposits or debt securities to which the requirements provided in points 1.3.7. and 1.3.9., respectively, correspond to apply). 0 0 MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Version: 36a. COMMUNICATION "A" 6195 Effective:
01/03/2017

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. 10 10 iii) From 60 to 89 days. 5 5 iv) From 90 to 179 days. 1 1 v) From 180 days or more. 0 0 b) In foreign currency. i) Up to 29 days. 23 23 ii) From 30 to 59 days. 17 17 iii) From 60 to 89 days. 11 11 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 Trust Fund for Assistance to
Financial and Insurance Institutions.
0 0
1.3.11. Demand and time deposits made by
order of the Court with funds originating in the cases in which it intervenes, and their immobilized balances.
1.3.11.1. In pesos. 13 13
1.3.11.2. In foreign currency. 15 15
1.3.12. Special deposits linked to the inflow of foreign funds - Decree 616/05.
100 100
1.3.13. Term investments instrumented in non-transferable registered certificates, in pesos, corresponding to public sector holders that have
the right to exercise the early cancellation option within a period of less than 30 days counted from their constitution. 16 15 MINIMUM CASH B.C.R.A.
Section 1. Requirement.
Version: 33a. COMMUNICATION "A" 6195 Effective:
01/03/2017

B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON "MINIMUM CASH" ORDERED TEXT SOURCE RULE Sec. Point Para. Comm. 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,
4473, 5945 and 6069.
1.2. "A" 3274 II 1. 1.2. According to Comm. "A" 3304, 3498,
3597, 4449, 4716 (includes interpretive clarification), 4815, 5471 and "B" 9186.
1.3. "A" 3274 II 1. 1.3. According to Comm. "A" 5356 and 5980.
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,
5356, 5980 and 6195.
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, 5893, 5980, 6148 and 6195.
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, 5893, 5980 and 6195.
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,
5893, 5980 and 6195.
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, 5356, 5980 and 6195.
1.3.6. "A" 3274 II 1. 1.3.7. According to Comm. "A" 5356.
1.
1.3.7. "A" 3498 único 1. 1.3.8. According to Comm. "A" 3506 (point 2.),
3549, 3732, 3824, 3905, 3917,
3925, 3967, 4032, 4140, 4179,
4276, 4360 (point 3.), 4449, 4549, 4602, 4754, 4851, 5356, 5534, 5555, 5569, 5873, 5893, 5945, 5980 and 6195.

MINIMUM CASH
ORDERED TEXT SOURCE RULE
Sec. Point Para. Comm. Annex Sec. Point Para.
OBSERVATIONS
1.3.8. "A" 3498 único 1. 1.3.11. According to Comm. "A" 3597, 3732,
4032 and 5356.
1.3.9. "A" 3498 único 1. 1.3.12. According to Comm. "A" 3905, 3917,
3967, 4032, 4179, 4276,
4449, 4549, 4851, 5356,
5534, 5555, 5569, 5873,
5893, 5980 and 6195.
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, 5893,
5980 and 6195.
1.3.12. "A" 4360 2. According to Comm. "A" 5356.
1.3.13. "A" 4754 6. According to Comm. "A" 5356, 5980
and 6195.
1.3.14. "A" 5945 4. According to Comm. "A" 6069.
1.3.15. "A" 6069 4.
1.4. "A" 3905 3. According to Comm. "A" 4179, 4449,
4473, 5671, 5740. Includes interpretive 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.
1.5. 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 único 1. 1.8. According to Comm. "A" 4147.
1.
1.9. "A" 5380 According to Comm. "A" 5449, 5516,
5600, 5654 and 5771. Includes interpretive clarification.
2.1. "A" 3274 II 2. 2.1. According to Comm. "A" 3498, 3597,
4716 (interpret. 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 único 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.