Circular REMON 1-950: Minimum Cash Adjustments

2018 - YEAR OF THE CENTENARY OF THE UNIVERSITY REFORM

COMMUNICATION “A” 6550
16/08/2018

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 950

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:

“- Increase, with effect from 16.8.18, for the financial institutions included in Group “A” referred to in Section 4. of the rules on “Authorities of financial institutions”, by 3 percentage points the minimum cash requirement rates in pesos provided for by points 1.3.1., 1.3.2.1., 1.3.3.1., 1.3.4.1. and 1.3.5., subparagraphs i) and ii) of point 1.3.7.1., subparagraphs i) and ii) of subsection a) of point 1.3.9. and points 1.3.11.1. and 1.3.13. of the rules on “Minimum cash”. This increase in the minimum cash requirement may not be integrated with National Government bonds in pesos at a fixed rate maturing in 2020.”

Likewise, we inform you that we will subsequently send you the pages that, in replacement of those previously provided, should be incorporated into the referenced rules.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Principal Manager of Issuance and Regulatory Applications

Agustín Torcassi
Deputy General Manager of Regulations