Circular RUNOR 433: CRYL - Integration of Minimum Liquidity Requirements

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
------------------------------------------------------------------------------------------------------------------ COMUNICACION “A” 3253 10/04/01 ------------------------------------------------------------------------------------------------------------------ TO FINANCIAL ENTITIES:
Ref.: Circular
RUNOR 433
CRYL – Integration of Minimum Liquidity Requirements (R.M.L.)

We address you to inform you that, in relation to what is provided in the penultimate paragraph of Communication “A” 3251 of 09.04.2001, it has been resolved to incorporate into the consolidated text of the regulations on the Central Registry and Clearing of Public Debt Instruments (CRYL), in Section 3. “Authorizations”, the point “3.3.5. Integration of Minimum Liquidity Requirements (R.M.L.)”.

Section 3. Authorizations.
3.3. Classification of registration accounts
“3.3.5. Integration of Minimum Liquidity Requirements (R.M.L.).
The number corresponding to this registration account will be formed by the entity's current account number at the Central Bank (5 digits) followed by “08”, and will be available to custody the values especially authorized to integrate Minimum Liquidity Requirements, at the level of the depositing financial entity. These registration accounts will be opened ex officio.”

We send you attached, which will be available in printed form and on the Internet site of this Central Bank from 18.04.2001 (www.bcra.gov.ar), the sheets that correspond to incorporate into the consolidated text of the reference.

We salute you very attentively.
BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Horacio C. Domínguez Raúl O. Planes
Submanager of Operations with Securities and Foreign Exchange Manager of Payment System and Manager of Payment System and Operations Operations

ANNEX: 3 sheets
With copy to exchange houses, agencies and brokers, stock brokers, non-financial entities issuing credit cards in the “closed system” modality and to trustees of financial trusts included in the Financial Entities Law.

PUBLIC DEBT INSTRUMENT REGISTRATION AND CLEARING CENTRAL B.C.R.A "CRYL"
Section 3. Authorizations.
d) Entities must have an express declaration from their custodied clients, whose holdings are registered both in the global account "02" and in the individual ones, indicating that their Public Debt Instruments (IEP) remain registered in the custodial entity and are not transferred to Caja de Valores S.A., under the terms of the tax relief law for the purchase of private securities in the income tax and the provisions contained in the regulatory decree of the functioning of Caja de Valores S.A. e) The balances registered and the movements carried out by custodial or depositary entities in their global registration accounts ending in “02” and special for individual use, must be consistent with the analytical registrations in the subaccounts opened for each client who maintains their holdings in the entity, according to the corresponding supporting documentation. The analytical records must be kept by species and client. At least quarterly, the custodial or depositary financial entity must send to each client an account summary in which, at a minimum, the movements and balances by species registered in the reporting period are recorded.

3.3.3. Transitional portfolio.
The number corresponding to this registration account will be formed by the current account number followed by "03" and will be authorized for entities when they do not have an express declaration from their custodied clients indicating that their IEP remain registered in the global account "02" or in the individual ones in the custodial entity. This transitional use bridge account has the purpose of receiving from clients the IEP that are deposited in Caja de Valores S.A. and that must be settled by the agent through any of the instruments authorized by CRYL, or to temporarily receive IEP for clients, for the settlement of those instruments, destined to Caja de Valores S.A.

3.3.4. Institutionalized depositaries.
The number corresponding to this registration account will be formed by the current account number followed by "04", and will be authorized for general use of the Securities Markets and Caja de Valores S.A. Version: 2nd. Communication “A” 3253 Validity:
10/04/01

PUBLIC DEBT INSTRUMENT REGISTRATION AND CLEARING CENTRAL B.C.R.A "CRYL"
Section 3. Authorizations.
3.3.5. Integration of Minimum Liquidity Requirements (RML).
The number corresponding to this registration account will be formed by the entity's current account number at the Central Bank (5 digits) followed by "08", and will be available to custody the values especially authorized to integrate Minimum Liquidity Requirements, at the level of the depositing financial entity. These registration accounts will be opened ex officio. Registration accounts opened in the name of the same agent will function independently. The transfer of IEP between accounts of the same agent must be carried out through the presentation of FT instructions. Version: 1st. Communication “A” 3253 Validity:
10/04/01.

B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE CONSOLIDATED TEXT OF THE REGULATIONS ON THE REGISTRATION AND CLEARING CENTRAL OF PUBLIC DEBT INSTRUMENTS "CRYL" CONSOLIDATED TEXT ORIGIN NORM
Section Point Annex Com. Cap./
Annex Point Paragraph Observations
1. “A” 3191
2. “A” 3191
3. 3.3 “A” 3191
3. 3.3.4. “A” 3191 last Suppressed by Comm. “A”
3253
3. 3.3.5 “A” 3191 Incorporated by Comm.
“A” 3253
3. 3.3.5 “A” 3191 last Added by Comm. “A”
3253
4. “A” 3191
5. “A” 3191
6. “A” 3191
7. “A” 3191
8. “A” 3191
9. “A” 3191
10. “A” 3191
11. “A” 3191
12. “A” 3191