Circular SINAP 1-230 National Payments System - Electronic Clearing Chambers. Update

"Año de la Reconstrucción de la Nación Argentina" COMUNICACIÓN “A” 8236 30/04/2025 TO FINANCIAL ENTITIES, TO ELECTRONIC CLEARING CHAMBERS, TO AUTOMATED TELLER MACHINE NETWORKS, TO ELECTRONIC FUNDS TRANSFER NETWORKS:
Ref.: Circular
SINAP 1-230:
National Payments System - Electronic Clearing Chambers. Update.
___________________________________________________________________________ We address you to deliver to you the sheets that, in replacement of those previously provided, must be incorporated into the regulations referenced herein, based on the provisions disseminated through Communication “C” 96498. It is noted that on this Institution's website www.bcra.gob.ar, by accessing “Financial System – LEGAL AND REGULATORY FRAMEWORK – Ordering and summaries – Ordered texts of general regulations”, the modifications made with text highlighted in special characters (strikethrough and bold) will be found. We salute you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Irene T. Cano Matías A. Gutiérrez Girault Deputy General Manager of Payment Systems Manager of Payment Systems
ANNEX

9.3. Availability of Guarantees
Each ECC shall request from the GCC, for each affiliated entity, the opening of special guarantee accounts in the different classes of currency in which compensations authorized by the BCRA are carried out, whose operation shall adhere to the guidelines indicated below, in order to keep available for immediate application the guarantees constituted.
9.3.1. Ownership
9.3.1.1. To cover the compensation of checks and other compensable instruments, direct debits, and transfers: the accounts shall be designated “Abbreviated Name of the ECC / Name of the Affiliated Entity”.
9.3.1.2. To cover the compensation of automated teller machine networks: the accounts shall be designated “Abbreviated Name of the ECC / Name of the Network / Name of the Affiliated Entity”.
9.3.1.3. To cover the compensation of purchase and credit cards: the accounts shall be designated “Abbreviated Name of the ECC / Name of the Card / Name of the Affiliated Entity”.
9.3.1.4. To cover the compensation of consumption vouchers: the accounts shall be designated “Abbreviated Name of the ECC / Name of the Consumption Voucher / Name of the Affiliated Entity”.
9.3.1.5. To cover the compensation of immediate transfers: the accounts shall be designated “Abbreviated Name of the ECC / Name of the Immediate Transfer Service Provider / Name of the Affiliated Entity / Immediate Transfers”.
9.3.1.6. To cover the compensation of DEBIN: the accounts shall be designated “Abbreviated Name of the Administrator / Name of the Affiliated Entity / DEBIN”.
9.3.2. Availability of Balances
Checkbooks will not be enabled.
Balances will be available via transfer to the current account of the entity or of the ECC. Account debits will be ordered solely and exclusively by the ECC, through the IDEAR system, via the code established for this purpose.
9.3.3. Origin of Credits
The crediting of funds in the special guarantee accounts will not have any type of limitation or conditioning.
B.C.R.A.
NATIONAL PAYMENTS SYSTEM – ELECTRONIC CLEARING CHAMBERS
Section 9. Guarantees
Version: 5th. COMMUNICATION “A” 8236 Validity:
01/05/2025 Page 14

9.3.4. Destination of Debits
Only debits whose destination is the operating current account of the ECC, by application of the guarantee, or the current account of the affiliated entity, by reimbursement of excess constituted guarantee, will be processed.
9.3.5. Institutional Application of Balances
Special guarantee accounts will qualify for the integration of the minimum cash, in accordance with the provisions of the respective regulations.
9.4. Procedure for Liquidation of Guarantees Between Different Products
In the guarantee liquidation procedures defined in points 9.2.1.3., 9.2.2.2., 9.2.3.2.ii) and 9.2.4.2., the order of execution of guarantees to achieve coverage of net debtor balances will be as follows:
9.4.1. guarantees in pesos associated with the product whose debtor balance has not been covered by the corresponding financial entity;
9.4.2. in the event of existence, guarantees in pesos of another product that compensates the financial entity, provided that its compensation cycle has closed.
9.5. Chambers Committee
The Chambers Committee, which will be convened by the BCRA at the request of the GSP when the situation to be treated warrants the possibility of withdrawing an entity from the compensations of a date, will adjust its management to the guidelines detailed below:
9.5.1. Mission
9.5.1.1. Analyze the situation of entities that, from 12:00 hours of each day, register a net debtor compensation balance higher than the amount of the constituted guarantee and have not transferred or deposited in cash for the operating account of the CEC-BV the corresponding amount, as well as when any entity has not replenished guarantees liquidated due to non-payment or due to non-compliance with increases due to recalculation of guarantees. It must also intervene in the cases provided for the abnormal liquidation of CEDIP, as provided in point 9.2.4.3.
9.5.1.2. Record in minutes the rejection of debtor balances occurred due to retail transfers and direct debits, when such rejections have been resorted to in order to achieve the liquidation of the compensation of checks and other compensable documents.
B.C.R.A.
NATIONAL PAYMENTS SYSTEM – ELECTRONIC CLEARING CHAMBERS
Section 9. Guarantees
Version: 5th. COMMUNICATION “A” 8236 Validity:
01/05/2025 Page 15

9.5.1.3. Formalize the total exclusion of financial entities from the operations carried out by the ECCs, prior to adjustment to these regulations and procedures.
9.5.1.4. Notify the person acting on behalf of the excluded financial entity of the resolution.
9.5.1.5. Order the use of the mutualized guarantee fund established in point 9.2.1.2.
9.5.2. Integration
The Chambers Committee will be composed of:
− one full member and one alternate member for each high-value and low-value ECC; and − three full members and three alternates –at the management level– by the BCRA, representing the Specialized Supervision Management, the GSP, and the Credit Management.
9.5.3. Secretariat
The secretariat will be in charge of the Executive Secretariat of the CIMPRA, who will prepare and keep the original minutes of what was resolved by the Chambers Committee, and must endorse the copies issued for use by the representatives.
9.5.4. Development of the Chambers Committee Meeting
9.5.4.1. The committee secretary, at the request of the GSP representatives, will summon all representatives contemplated in point 9.5.2.
Likewise, it will summon a representative of the entity, in order to notify them at the close of the meeting of the decisions adopted.
Upon the presence of all its members, the meeting will begin at the hour for which it was summoned. Otherwise, it will begin 15 minutes later with the participation of the present members, provided that at least two BCRA representatives and the representative of the affected ECC are present.
9.5.4.2. The meeting will be coordinated by the GSP representative.
9.5.4.3. The GCC must inform about the detected non-compliance, while the affected CEC-BV must inform about the balances discriminated by operation and the rejections of compensable instruments in advance, while the CEC-AVs must inform about the positions of instruments received for collection and the guarantees pending application at the time the meeting begins.
B.C.R.A.
NATIONAL PAYMENTS SYSTEM – ELECTRONIC CLEARING CHAMBERS
Section 9. Guarantees
Version: 4th. COMMUNICATION “A” 8236 Validity:
01/05/2025 Page 16

9.5.4.4. Once it is verified that the non-compliance situation has not been overcome, the chamber exclusion minutes for the day's date will be integrated, which will be signed by all present representatives. Immediately after, the secretary will notify the resolution to the representative of the excluded financial entity, or leave a record of their absence.
9.5.5. Effects of Chamber Exclusion
9.5.5.1. The excluded entity will be credited with the presentations of checks and other compensable instruments made on the previous business day and liquidated on the date.
9.5.5.2. The excluded entity will reject all checks and compensable instruments presented against it by the other entities.
9.5.5.3. From the date of exclusion, presentations by the excluded entity are no longer accepted in the checks and other compensable instruments session. On the next business day, if the excluded entity does not regularize its situation before 12:00 hours, the CEC-BV will reject ex officio the presentations made by the rest of the entities against it.
9.6. Chamber Exclusion
Entities that are excluded from any of the compensation processes carried out by the CEC-BVs, or that apply guarantees to cover debtor balances both in the CEC-BV and in the CEC-AV, will be informed by the GSP to the SEFyC, for their competence. Entities will be withdrawn from the processes carried out by the CEC-BVs by application of the regulations in the preceding chapters, or by instruction of the SEFyC, which may reach the processes carried out by the CEC-BVs and CEC-AVs. The guarantees registered at the time of suspension of a financial entity by the BCRA, unless there is a judicial requirement, will remain at the disposal of the ECCs to complete the compensation cycle of the operations entered previously. Having complied with the described, the ECC will proceed to transfer the remaining balance of the special guarantee account to the entity's current account. B.C.R.A. NATIONAL PAYMENTS SYSTEM – ELECTRONIC CLEARING CHAMBERS
Section 9. Guarantees
Version: 4th. COMMUNICATION “A” 8236 Validity:
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NATIONAL PAYMENTS SYSTEM – ELECTRONIC CLEARING CHAMBERS ORDERED TEXT ORIGIN REGULATION OBSERVATIONS Section Point Para. Com. Annex/ Chap. Pt. Para.
9.2.4. “A” 7989 5.
9.3. “A” 4247 unique S/Com. “A” 5196, 6099 and 7739.
9.3.2. “A” 4247 unique S/Com. “C” 96498.
9.4. “A” 7718 S/Com. “A” 7736, 7755, 7818, 8236 and
“B” 12535.
9.5. “A” 4247 unique S/Com. “A” 7739.
9.5.1. “A” 4247 S/Com. “A” 7989.
9.5.4. “A” 4247 S/Com. “A” 8051.
9.6. “A” 4247 unique S/Com. “A” 7739.