Circular RUNOR 1-1879: Protection of Financial Services Users. Adjustments.

Financial entities offering mortgage loans in pesos for home purchases that allow funds to be applied to foreign currency payments via securities transactions settled in foreign currency (MEP dollar) must disclose the total cost of the securities operation to applicants and in all related advertising. The Central Bank of the Republic of Argentina requires these entities to incorporate specific replacement forms into the relevant regulations to ensure this transparency.

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"Año de la Reconstrucción de la Nación Argentina" "Año de la Reconstrucción de la Nación Argentina"

COMUNICACIÓN “A” 8183 23/01/2025

TO FINANCIAL ENTITIES:
Ref.: Circular
RUNOR 1-1879:
Protection of Financial Services Users. Adjustments.

We address you to inform you that this Institution has adopted the resolution, in its pertinent part, which provides:

"- Establish that financial entities that offer mortgage loans in pesos for the purchase of housing and allow those funds to be applied to the payment of real estate in foreign currency through a securities purchase and sale operation settled in foreign currency (MEP dollar), must inform requesting users, and in all advertising they carry out regarding such credits, the total cost of the securities operation."

Likewise, we inform you that we will subsequently send you the forms that, in replacement of those previously provided, it will be necessary to incorporate into the relevant regulations.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC
Darío C. Stefanelli Marina Ongaro
Principal Manager of Issuance and
Normative Applications
Deputy General Manager of Financial Regulation

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Source: Banco Central de la Republica Argentina — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works