Circular REMON 1 - 975: Minimum Cash Requirements - Adjustments

2019 - YEAR OF EXPORT

COMMUNICATION “A” 6738
22/07/2019

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 975

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 point 1.3.15. of the rules on “Minimum cash” with the following:

“1.3.15. Financial institutions may integrate the requirement in pesos –for the period and daily– with BCRA Liquidity Bills (LELIQ) and/or BCRA Notes (NOBAC) as follows:

1.3.15.1. Those included in Group “A” and the branches or subsidiaries of G-SIBs not included in that group: up to 16 percentage points of the rate provided in subparagraph i) of point 1.3.5.1. and in point 1.3.9.; up to 13 percentage points of the rate provided in subparagraph ii) of point 1.3.5.1.; up to 10 percentage points of the rates provided by points 1.3.1., 1.3.2.1., 1.3.3.; up to 13 percentage points of the rates provided in subparagraphs i) and ii) of point 1.3.7.1.; up to 3 percentage points of the rates provided in subparagraphs i) to iii) of point 1.3.10. and in point 1.3.11. and up to 2 percentage points of the rate provided in subparagraph iii) of points 1.3.5.1 and 1.3.7.1.

1.3.15.2. Entities not included in the preceding point: up to 3 percentage points of the rates provided in subparagraphs i) and ii) of points 1.3.5.1. and 1.3.7.1., in point 1.3.9., in subparagraphs i) to iii) of point 1.3.10. and in point 1.3.11. and up to 2 percentage points of the rate provided in subparagraph iii) of points 1.3.5.1 and 1.3.7.1.”

2. Provide that the foregoing shall be effective from the unified position of July/August 2019.”

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

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