Circular RUNOR 1 - 141. Asset Classification for Investments with Pension and Retirement Funds

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
__________________________________________________________________ COMUNICACION " A " 2262 28/10/94 __________________________________________________________________ TO FINANCIAL ENTITIES:
Ref.: Circular
RUNOR 1 - 141.
Asset Classification for Investments with Pension and Retirement Funds

We address you to inform you that this Institution adopted the following resolution:

"1. Replace point 3 of the resolution disseminated by Communication "A" 2229 (text according to Communication "A" 2255) with the following:

"3. State that rating societies will provide the corresponding qualification reports for the assets indicated in points 1.2. and 1.3. of this communication to the Superintendence of Pension Fund Administrators, with a copy to the Central Bank, within 5 calendar days of their issuance.

In the case of the assets indicated in point 1.1. (fixed-term deposits and/or current accounts), such reports will be submitted by the financial entities, observing the form and deadline established in the preceding paragraph.

Along with the copy to be sent to the Central Bank, a note signed by the president or legal representative of the rating society will be attached, in which it is expressly stated that said society and the persons performing the various functions indicated in Decree 656/92, comply with the provisions of articles 17, 18 and 19 of that instrument, particularly regarding the qualification of deposits and debts of the financial entity, regarding which they submit the report.

The Central Bank will analyze the reports produced regarding the assets indicated in point 1.1. in order to verify compliance with the minimum analysis guidelines contained in the annex to this communication and will rule on the compliance with such guidelines.

While the Central Bank has not issued the corresponding communication to the entity and to the Superintendence of Pension Fund Administrators, the entities and rating companies must refrain from disseminating, in whole or in part, the content and/or results of the reports."

2. Clarify that the failure to submit on time the quarterly reports on the assets indicated in point 1.1., to which the common provisions applicable to that point refer, or the verification of non-compliance with the minimum analysis guidelines, regarding the reports received by the Central Bank, will determine that the entity must immediately cease the collection of resources.

3. Extend until 12.31.94 the authorization for the collection of deposits referred to in point 4. of Communication "A" 2229 (text according to Communication "A" 2255), provided that the conditions established therein are observed."

We salute you very attentively.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA
Alfredo A. Besio Miguel A. Kiguel
Manager of Standards for General Manager
Financial Entities Area of Economics and Finance