Circular REMON 1 - 969: Minimum Cash - Adjustments

2019 - YEAR OF EXPORT

COMMUNICATION “A” 6703
23/05/2019

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 969

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. Replace, with effect from the May 2019 position, the last paragraph of point 1.5.1. of the rules on “Minimum cash” with the following:

“The moving average balance at the end of the last 12 periods prior to the reporting of peso financing (Loans and Credits for Financial Leases) granted to MSMEs shall be considered with respect to the total of such financing to the entity's non-financial private sector.”

2. Provide that the reduction of the average requirement in pesos based on the financing referred to in point 1.5.1. of the rules on “Minimum cash” (text according to point 1. of this communication) shall operate, between the months of May and October 2019, on the greater proportion arising from applying the provisions of that point and the ratio of financing maintained at the end of the previous reporting period.

Likewise, we inform you that we will subsequently send you the sheets 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
General Deputy Manager of Financial Regulation