Circular SGDB No. 017/2018: Interconnection and Interoperability for Electronic Fund Transfer Orders

EXTERNAL CIRCULAR La Paz, March 28, 2018 SGDB No. 017/2018. FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT FINANCIAL INTERMEDIATION ENTITIES, CASH ESPM, ENTEL FINANCIERA ESPM, ACCL S.A. 'INTERCONNECTION AND INTEROPERABILITY FOR THE PROCESSING OF ELECTRONIC ORDERS FOR FUNDS TRANSFER TO ACCOUNTS IN THE FINANCIAL SYSTEM' TO: SUBJECT: Ladies and Gentlemen: Within the framework of the Regulation of the Deferred Settlement Module of the Integrated Payments System (MLD), approved by Board Resolution of the Central Bank of Bolivia (BCB) No. 203/2016 of October 18, 2016, all Financial Intermediation Entities participating in the LIP must offer their account holders in the financial system the service of Electronic Fund Transfer Orders (OETF) for the processing of fund transfers between holder accounts through some Compensation and Settlement Chamber for OETF or the MLD1. Complementarily, the Second Transitional Provision (Adaptation Period for the Interconnection of Participants in the Hybrid Settlement Module - MLH) of this same Regulation states that the BCB, through a General Management Circular, will define the deadline for LIP participants by entity type to integrate into the MLD through the use of the computer development they define for the processing of OETF. In this context, the following schedule is established with the deadlines, timeframes, and tasks that participating entities of the LIP must carry out to make the electronic transfer service to accounts in the entire financial system available to their account holders through connection with the MLD of the LIP.

1 Paragraph 2 of Article 24 (Interconnection and Interoperability Requirements) of the "Regulation of the MLD".

BANCO CENTRAL DE BOLIVIA PLURINATIONAL STATE OF BOLIVIA

By October 12, 2018, all participating entities of the LIP must connect to the MLD or to a Compensation and Settlement Chamber and make the OETF service to accounts in the entire financial system available to their account holders, complying with the interconnection and interoperability conditions set forth in the MLD Regulation. The Financial System Supervision Authority, within the framework of its powers established in Financial Services Law No. 393, will apply the corresponding measures when a supervised entity fails to comply with the proposed schedule, prior to a report from the Central Bank of Bolivia. Sincerely,

Task | Deadline or Timeframe Contract signing request | April 13, 2018 Enablement in the MLD test environment and adaptations in computer systems | April 15 to May 11, 2018 Integral tests of OETF processing | May 14 to June 22, 2018 Verification of OETF requirements compliance for participant enablement to the MLD | June 25 to August 10, 2018 Participant enablement | August 13 to September 28, 2018 Final deadline for providing the OETF service to account holders | October 12, 2018