Circular REMON 1-973: Minimum Cash Adjustments

2019 - YEAR OF EXPORT

COMMUNICATION “A” 6719
19/06/2019

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 973

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 1.6.19, point 1.1.2.8. of the rules on “Minimum cash” with the following:

“1.1.2.8. Obligations with merchants for sales made through the use of credit and/or purchase cards.”

2. Provide, with effect from 1.7.19, that the minimum cash requirement in pesos shall be determined from the average of the daily balances of the included obligations recorded at the close of each day during the period prior to its integration.

3. Establish the unified computation of minimum cash positions in pesos for the periods July/August and December of a year/January of the following year.”

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

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Agustín Torcassi
Principal Manager of Issuance and
Regulatory Applications
Deputy General Manager of Financial Regulation