Communication A 5000: Modifications and Extension of Application Dates for Bank Current Account Regulations, Savings and Special Deposits, and Cooperative Credit Union Accounts

"2009 - Year of Homage to Raúl SCALABRINI ORTIZ" COMMUNICATION “A” 5000 29/10/2009

TO FINANCIAL ENTITIES:
TO COOPERATIVE CREDIT UNIONS (LAW 26.173):
Ref.: Circular
OPASI 2 - 404

Regulation of the bank current account. Savings and special deposits. Demand accounts opened in cooperative credit unions. Communication “A” 4971. Modifications and extension of application dates. ______ We address you to inform you that this Institution has adopted the following resolution:

“1. Establish new effective dates for the launch of the “Central of Cheques Reported as Lost, Stolen, or Altered” and for the incorporation of the data that must be recorded on the back of checks when they are delivered by their beneficiary to a third party for collection management, on December 1, 2009, and January 4, 2010, respectively. Consequently, entities must take the necessary means to bring the measures in question to the knowledge of their clients, with as much advance notice as possible before the mentioned effective dates.
2. Establish that the data on the current compensation period for the operation of depositing checks and other negotiable documents must be reported by entities through the account statement sent to their clients, in accordance with the procedures established in the regulations on “Regulation of the bank current account”, “Demand accounts opened in cooperative credit unions” and “Savings deposits, payment of remuneration and special deposits”, replacing the recording of said data on deposit receipts.”

Likewise, for the purpose of clarifying some aspects related to the application of the provisions in question, it is worth noting the following:

a) The procuratory endorsement, as stated, applies to checks drawn to bearer or to the order of a specific person (whether they contain or not the clause “not to order”), since, even in the case that the documents have said clause, this should not prevent them from being presented by a third party for collection management, taking into account that the procuratory endorsement does not imply a transfer or assignment of value, but a mandate from the beneficiary. Therefore, the “manager” acts on behalf of the beneficiary and not in their own name.

-2-

Consequently, in the case of checks that have the clause “not to order”, the only endorsements admitted are, in addition to those expressly provided for by law and regulations, those extended for the purpose of their collection or deposit or as “procuratory or collection management”. Otherwise, the check must be rejected due to the cause “Irregularity in the chain of endorsements” (check with a number of endorsements higher than the limit established for this type of document). Similar criteria are applicable to bills of exchange drawn against demand accounts opened in cooperative credit unions that have the clause “not to order”.

b) The identification in account statements of the types of transactions and operations carried out on one's own account or on behalf of third parties will correspond only in the case of deposits of checks and other negotiable documents, provided that said deposits are identified by the corresponding “procuratory” or “for collection management” endorsement, with the internal coding that each entity implements to distinguish each type of transaction.

c) The deadline to report to this Institution checks or bills of exchange reported as lost, stolen, or altered, will be calculated from the day of the filing of the complaint -with all the necessary data to identify these instruments, according to the relevant regulations- until the closing of the transmission schedule established in the corresponding operational guide of the next business day.

d) Collector accounts are not covered by the provisions under analysis regarding procuratory endorsement, since their nature is to concentrate payments from users of a specific service, so all fund inflows into these accounts have the holder of said collector account as the real and final beneficiary; therefore, financial entities will be responsible for the correct functioning of the mentioned accounts, verifying that they do not deviate from the purposes for which they were created, that is, that the credits always have the holder of the account as the beneficiary.

Finally, we send you the sheets that, in replacement of those previously provided, should be incorporated into the texts of reference. Likewise, it is recalled that on this Institution's website www.bcra.gov.ar, accessing “regulations” (“organized texts”), the modifications made with texts highlighted in special characters (strikethrough and bold) will be found.

We greet you very respectfully.

BANCO CENTRAL DE LA REPUBLICA ARGENTINA
Darío C. Stefanelli José I. Rutman
Manager of Issuance
Manager of Norms
General Manager of Norms

ANEXO

1.5.1.6. Communicate to the entity any modification of their social contracts, statutes, change of authorities or powers and the revocations of the latter, particularly when referring to the persons mentioned in point 1.3.2.6.
1.5.1.7. Return to the entity all blank checks that it retains at the time of requesting the closure of the account or within 5 business days of the date of having received the communication of the suspension of the check payment service as a prior measure to the closure of the account or of the closure of the account.
1.5.1.8. Integrate checks in pesos, draft them in the national language and sign them by hand or by the alternative means authorized.
It will not be admitted that checks carry more than 3 signatures.

1.5.2. Obligations of the entity.
1.5.2.1. Keep accounts up to date.
1.5.2.2. Credit on the day the amounts delivered for the credit of the current account and the deposits of checks within the current compensation periods.
1.5.2.3. Send to the account holder, at most 8 calendar days after the end of each month and/or the shorter period established and under the conditions agreed upon, a statement with the detail of each of the movements that take place in the account -debits and credits-, whatever their concept, identifying the different types of transaction and the operations carried out on one's own account or on behalf of third parties -in the latter case to the extent that the deposits are identified by the corresponding endorsement- through a specific code that each entity implements for this purpose and the balances recorded in the period it covers, asking for their written consent. In the summary, the Uniform Bank Key (CBU) will be stated so that the client can adhere to automatic debit services, the current compensation period for the operation of depositing checks and other negotiable documents, and the total amount debited in the period for the concept of “Tax on Financial Transactions”.
In that statement or account summary, additionally, entities will report the following minimum data:
i) If debits corresponding to the automatic debit service occur:

• Name of the service provider company, tax collection agency, etc., to which the debited funds were destined.
• Identification of the client in the company or entity (surname and name or code or account, etc.).
• Concept of the operation causing the debit (month, bimonth, installment, etc.).
• Amount debited.
• Date of debit.

B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT
Section 1. Operation.
Version: 7th COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 6

2.1. Credits.
2.1.1. Through counter deposits or ATMs.
When slips are used, they must contain, at minimum, the following data:
2.1.1.1. Name of the financial entity.
2.1.1.2. First and last name or corporate name of the holder and account number.
2.1.1.3. Amount deposited.
2.1.1.4. Place and date.
2.1.1.5. When it concerns deposits of checks or official payment orders, the name of the drawn entity and the amount of each of the deposited documents.
2.1.1.6. Stamp of the receiving house, unless mechanized security writings are used.
Regarding the execution of operations through ATMs, entities must have implemented computer security mechanisms that guarantee the genuineness of the operations.
2.1.2. Through transfers -including electronic-, telephone orders, through “Internet”, etc.
Entities must have implemented computer security mechanisms that guarantee the genuineness of the operations.
2.1.3. Through internal credits.
2.1.4. Others.
Except when deposit slips are used, banks must issue the relevant certificate with the essential data of the operation, whatever the means used.

2.2. Debits.
2.2.1. By payment of checks. In the case of accounts in the name of legal entities that do not have checkbooks, the debit for the payment of “counter checks” to their legal representatives or persons authorized to operate in them must be provided for. Debits for the sale of “counter checks” and “financial payment checks” issued by the bank and “cancellation checks” will also be contemplated.
2.2.2. Transfers, which must be ordered by the account holder, whatever their form -personal, electronic, telephone, via “Internet”, etc.-.

B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT
Section 2. Movement of accounts.
Version: 6th COMMUNICATION “A” 5000 Validity:
29/10/2009 Page 1

5.1. Endorsement.
5.1.1. Limit.
Checks presented for collection or -if applicable- for registration until December 31, 2009, may only contain the number of endorsements indicated below:
5.1.1.1. Common checks: up to one endorsement.
5.1.1.2. Deferred payment checks: up to 2 (two) endorsements.
Endorsements made by financial entities to obtain financing, in favor of a financial entity or a trustee of a financial trust, both cases included in the Financial Entities Law, and successive transmissions in favor of other subjects of the same nature are excepted from the limitations established in this point, as well as when checks are deposited in the Caja de Valores S.A. to be negotiated in the Self-Regulated Stock Exchanges and Securities Markets of the Argentine Republic, in which case the endorsements must be extended with the clause “... for negotiation in Securities Markets”. Endorsements in favor of the Central Bank of the Argentine Republic will also be excepted from the aforementioned limitation.

5.1.2. A check drawn in favor of a specific person, which does not have the “not to order” clause, is transferable by endorsement.
Checks with said condition (“not to order”) may also be transferred by endorsement in the case of transfers -first and successive- when extended:
5.1.2.1. In favor of financial entities.
5.1.2.2. In favor of trustees of financial trusts included in the Financial Entities Law, to the extent that they concern operations related to the trust.
5.1.2.3. For deposit in the Caja de Valores S.A. for the purpose of being negotiated in the Self-Regulated Stock Exchanges and Securities Markets of the Argentine Republic, in which case the endorsements must be extended with the clause “... for negotiation in Securities Markets”.

In the case of checks drawn to bearer or to the order of a specific person -whether they have or not the clause “not to order”- and that are delivered by their beneficiary to a third party for collection management through their presentation at the counter or through their deposit in an account for electronic compensation, the signature and clarification of the principal or orderer of the management and their personal identification number -according to the regulations on “Valid Identification Documents”- in the case of natural persons or CUIT or CDI in the case of legal persons, must be recorded on the back, regardless of the existence or not of the document that instruments the mandate. Additionally, any of the following expressions will be inserted: “in procuratory”, “value for collection” or “for collection management”, as a manifestation of the effects of that endorsement.

B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT
Section 5. Endorsements, special modalities of issuance and aval.
Version: 13th COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 1

The obligation to record the personal identification number or CUIT or CDI, as applicable, and the legend mentioned above falls, indistinctly, on the principal or orderer and the agent or manager.

5.1.3. The signature to be inserted on a check solely for the purpose of its collection or deposit -which may be admitted under the conditions established in paragraph 6 of Article 2 of the Check Law- will not constitute an endorsement, serving for the purposes of identification of the presenter and may serve, if applicable, as a receipt.
Endorsements inserted to carry out the collection management of the documents referred to in the third and fourth paragraphs of point 5.1.2 will not be counted for the purposes of the limit established in point 5.1.1.

5.1.4. The endorsement must be pure and simple and contain the signature of the endorser, their full first and last names and identity document, and, if applicable, the name of the legal person they represent and the capacity invoked.
For the purposes of presenting the check for collection -directly at the drawn entity or through another depositary intermediary-, the presenter must include their address when inserting their signature for identification purposes.

5.1.5. Partial endorsement and endorsement by the drawee are null.

5.1.6. The endorsement that does not contain the specifications established in point 5.1.4 does not prejudice the title or its transferability, and cannot be rejected due to that deficiency.

5.1.7. The addition of sheets for the purpose of transmitting or guaranteeing the instrument will only proceed for reasons of space. For this purpose, the intervenor to whom the addition corresponds must sign covering both the exhausted element and the new one.

5.1.8. In other aspects related to the figure of endorsement, what is provided in the Check Law applies.

5.2. Crossed check.
Checks with general or special crossing may be paid directly to clients, for which purpose they will be understood as such the holders of current and/or savings accounts of the drawn entity.

5.3. Check to credit in account.
Upon presentation of an instrument with that condition, the drawn entity can only settle the check through an accounting entry. The cancellation of said legend will be considered as not done.

5.4. Imputed check.
The aforementioned clause -with the imputation of payment- only produces effect between the endorser and their immediate holder, excluding the drawee from responsibility. Only the recipient of the payment can endorse the value and, in such case, the bearer maintains its negotiability. Consequently, the responsibility of a financial entity, in this case, will arise from its eventual character as beneficiary or bearer of an instrument extended under those conditions, regardless of being the drawn or depositary entity.

B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT
Section 5. Endorsements, special modalities of issuance and aval.
Version: 6th COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 2

7.3.1.4. Identify the presenter of the rejected check or transferable nominative certificate, who must sign on the back of the corresponding photocopy, with indication of the identity document exhibited.
When the collection or registration management has been carried out with the intervention of a clearing house, the drawn entity will send 2 photocopies of the value whose payment is rejected and the depositary entity will take charge of the identification task referred to in the previous paragraph, with subsequent return of one of those copies to the drawn entity. In both cases, the presenter will be the recipient of the other photocopy certified by the drawn entity.

7.3.1.5. Inform, within 24 business hours following the receipt of the complaint in which all the identifying data of the check are recorded, to the Central Bank of the Argentine Republic for the purposes that the documents mentioned in point 7.1., except the special formula to request checkbooks, be included in the “Central of Cheques Reported as Lost, Stolen, or Altered”, according to the procedure that will be established in the corresponding operational guide that this Institution will disseminate.
The information referred to these documents will be removed when the intervening financial entity has reported, according to the corresponding operational guide, the presentation for collection or when it corresponds to remove checks due to the application of what is provided in point 7.3.3.2 iii) of this regulation.

7.3.2. In case of complaint of theft or alteration.
7.3.2.1. Send the rejected check or transferable nominative certificate -retained as provided in point 7.3.1.- to the intervening Court.
7.3.2.2. Archive the proceedings related to the received complaint and the rejections made for such reason.

7.3.3. In case of complaint of loss.
7.3.3.1. When the entity, as a consequence of previous rejections linked to the same complaint, has knowledge of the intervening Court:
i) Send the rejected check or transferable nominative certificate -retained as provided in point 7.3.1.- to said seat. ii) Archive the proceedings related to the received complaint and the rejections made for such reason.

7.3.3.2. When the bank does not know the intervening Court.

B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT
Section 7. Loss, theft or alteration of checks and other documents.
Version: 5th COMMUNICATION “A” 5000 Validity:
01/12/2009 Page 2

8.1. Administration.
The Central Bank of the Argentine Republic will administer the “Central of Rejected Checks” in which the list of natural and legal persons of the private sector responsible for the rejections included and their eventual cancellations according to this regulation will appear, constituted on the basis of the information provided by the entities and the “Central of Disqualified Account Holders” which will reflect the list of natural and legal persons of the private sector disqualified to operate in current accounts by judicial order, for non-payment of the legally established fines or for other legal reasons. Likewise, it will administer the “Central of Cheques Reported as Lost, Stolen, or Altered”, which will include the information of the checks, of the check formulas that have or have not been delivered to clients and, if applicable, of the nominative registration certificates involved in the situations provided in points 7.2.2. and 7.2.3. as applicable. The Central Bank of the Argentine Republic in its capacity as administrator of the Central Banks of Rejected Checks and Bills of Exchange and of those Reported as Lost, Stolen, or Altered and of the Central of Disqualified Account Holders, assumes no responsibility for any eventual inconsistencies, falsities or errors of the data included in said bases, since such information is received from financial entities according to the procedure established in the corresponding operational guide.

8.2. Reasons for inclusion.
8.2.1. In the “Central of Rejected Checks”.
Have incurred one or several rejections of checks -common or deferred payment- for:
8.2.1.1. Lack of sufficient available funds in account or authorization to draw in overdraft.
8.2.1.2. Non-registration of deferred payment checks.
8.2.1.3. Formal defects.

8.2.2. In the “Central of Disqualified Account Holders”.
8.2.2.1. Failure to pay the corresponding fine within 30 calendar days of the effective notification to the client of the rejection for the causes provided in points 6.1.1., 6.1.2. and 6.3. of Section 6.
8.2.2.2. Disqualification sanctions imposed by the Justice or for other legal reasons that have been notified to the financial system.

B.C.R.A. REGULATION OF THE BANK CURRENT ACCOUNT B.C.R.A. Section 8. Central of Rejected Checks, Central of Disqualified Account Holders and Central of Cheques Reported as Lost, Stolen, or Altered. Version: 7th COMMUNICATION “A” 5000 Validity:
01/12/2009 Page 1

8.2.3. In the "Central for checks reported as lost, stolen, or altered".
8.2.3.1. The holder or dispossessed holder must have reported to the entity the loss, theft, or alteration of the documents mentioned in point 7.1., except for the special form to request checkbooks.
8.2.3.2. The entity must have reported the loss, theft, or alteration in some of its subsidiaries of the documents mentioned in point 7.1., except for the special form to request checkbooks.
8.3. Cancellations of rejected checks.
This shall be demonstrated with any of the following alternatives:
8.3.1. Presentation of the instruments to the drawee, who shall retain them to apply the normal course corresponding generally to paid checks.
8.3.2. Deposit at the drawee institution of the amounts of the relevant checks with interest calculated from the date of rejection until the date of deposit of the funds -with express record of the identifying data to which they must be attributed-. For this purpose, the rate applied by the Banco de la Nación Argentina for unrequested current account overdrafts, valid on the day prior to the date of deposit, shall be used.
The operation may be recorded in the client's current account, separating the respective amounts, or in a special demand account.
The deposited funds shall be credited:

• Upon presentation of the respective instruments to the drawee bank.
  It is a necessary requirement that this presentation be made through another banking institution, when the recovery of the amounts is managed by any persons -other than the drawer- with legitimate title (depositors, endorsers, or guarantors), who are not clients of the aforementioned institution of the drawee entity.
• To the drawer, once the deadlines for filing judicial actions have expired -from the holder against the drawer, endorsers, and guarantors and/or among the various obligors among themselves as legally established-, without the drawee having been reliably notified of any filing in this matter.
  8.3.3. Record of collection extended by the creditor whose signature is certified by a public notary, a competent judicial official, or the drawee entity.
  8.3.4. Judicial deposit of the amount of the checks with interest according to the rate applied by the Banco de la Nación Argentina for unrequested current account overdrafts, calculated from the date of rejection until the date of deposit.

REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A. Section 8. Central for Rejected Checks, Central for Disqualified Current Account Holders, and Central for Checks Reported as Lost, Stolen, or Altered. Version: 7th. COMMUNICATION “A” 5000 Validity:
01/12/2009 Page 2

This provision does not replace the obligation to inform the Central Bank of the Argentine Republic of the rejections and/or the payment of the corresponding fines, within the deadlines established generally (points 6.4. and 6.5., respectively).
8.7. Lack of information. Sanctions.
Entities that fail to comply with the obligation to inform of the rejections or cancellations of checks included in the “Central for Rejected Checks” or the payment of the fines created by Law 25.730 or the reports of said documents in the “Central for Checks Reported as Lost, Stolen, or Altered”, within the time and manner established in the operating regime, may be sanctioned in accordance with Article 41 of the Financial Entities Law.
8.8. Exclusion of included persons.
8.8.1. Central for Disqualified Current Account Holders.
8.8.1.1. The disqualifications originating from the failure to pay the corresponding fine for each check rejection shall cease within 30 calendar days counted from the date when the cancellation of the entirety of the fines is proven and demonstrated.
In the event that the fines are not cancelled under the conditions indicated, the effects of the disqualification to operate in a current account shall cease after 24 months counted from the inclusion in the database. The corresponding current account holders shall be excluded from said central from the expiration of the aforementioned deadlines.
8.8.1.2. Persons who are disqualified by judicial decision or for other legal reasons shall be excluded from the database when the deadline provided for in those decisions expires or, in their case, when the circumstance is revoked by the competent magistrate.
8.8.2. Opening of accounts with fraudulent documentation.
In order to be excluded from the “Central for Rejected Checks” and/or the “Central for Disqualified Current Account Holders”, persons who have been incorporated into them as a consequence of that reason must make a presentation before the bank that reported the rejections, in which they succinctly explain the events that occurred, along with the following elements:
8.8.2.1. Original judicial certification accrediting that they have made the pertinent criminal report for the criminal fact that constitutes the opening of a current account under the cited conditions.

REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A. Section 8. Central for Rejected Checks, Central for Disqualified Current Account Holders, and Central for Checks Reported as Lost, Stolen, or Altered. Version: 6th. COMMUNICATION “A” 5000 Validity:
01/12/2009 Page 4

ORDERED TEXT ORIGIN NORM
Sec. Point Para. Comm. Annex Chap. Sec. Point Para. OBSERVATIONS
1.5.1.4. “A” 2514 unique 1.2.1.4.
1.5.1.5. “A” 2514 unique 1.2.1.5.
1.5.1.6. “A” 2514 unique 1.2.1.6. Ref. Comm. “A” 3075 and
“A” 3244
1.5.1.7. “A” 2514 unique 1.2.1.7. Ref. Comm. “A” 3075
1.5.1.8. "A" 2514 unique 1.1.1.3. and
1.2.1.8.
1st Ref. Comm. “A” 3831
1.5.2. “A” 2514 unique 1.2.2.
1.5.2.1. “A” 2514 unique 1.2.2.1.
1.5.2.2. “A” 2514 unique 1.2.2.2. Ref. Comm. “A” 3075
1st “A” 2514 unique 1.2.2.3. 1st Ref. Comm. “A” 3075, “A” 3323, “A” 4971 pt 1. and “A” 5000 2nd “A” 2621 2. Ref. Comm. “A” 3014 pt.
3.7.1.6
3rd “A” 2514 unique 1.2.2.3. 4th
4th “A” 3075
1.5.2.3.
5th “A” 2807 6. Ref. Comm. “A” 3244 and
“A” 3323
1.5.2.4. “A” 2514 unique 1.2.2.4. Ref. Comm. “A” 3075 and
“A” 3244
1.5.2.5. “A” 2514 unique 1.2.2.5. Ref. Comm. “A” 3075
1.5.2.6. “A” 2514 unique 1.2.2.6. 1st and 2nd Ref. Comm. “A” 3244
1st “A” 2514 unique 1.2.2.7. 1st Ref. Comm. “A” 2779 and “A” 3075 1.5.2.7.
2nd “A” 2514 unique 1.2.2.7. 2nd Ref. Comm. “A” 2779
1.5.2.8. 1st “A” 2514 unique 1.2.2.8. Ref. Comm. “A” 3244
2nd “A” 2814 2. Ref. Comm. “A” 3831
1st “A” 2514 unique 1.2.2.9. 1st
2nd “A” 2514 unique 1.2.2.9. 3rd Ref. Comm. “A” 3075 and “A” 3244 1.5.2.9.
3rd “A” 2514 unique 1.2.2.9. 2nd
1st “A” 2514 unique 1.2.2.10. Ref. Comm. “A” 3075 2nd “A” 2468 1. 5th 1.5.2.10.
3rd “A” 2468 1. 6th
1.5.2.11. “A” 2514 unique 1.2.2.11. Ref. Comm. “A” 3075,
“A” 3244 and “A” 4063, pt 1.
1.5.2.12. “A” 2514 unique 1.2.2. 2nd, 3rd
and 4th
Ref. Comm. “A” 2864, pt 3. and “A” 3244
1.5.2.13. “A” 2514 unique 1.2.2.14.
1st and
2nd
“A” 2508 unique 2nd Ref. Comm. “A” 2621, pt 3. and “A” 3244 1.5.2.14.
3rd “A” 2508 unique 3rd
1.5.2.15. “A” 2530 Ref. Comm. “A” 3075 and
“A” 3244
1.
1.5.3. “A” 2468 1. 1st Ref. Comm. “A” 3075
B.C.R.A. ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT ON REGULATION OF THE BANK CURRENT ACCOUNT

REGULATION OF THE BANK CURRENT ACCOUNT
ORDERED TEXT ORIGIN NORM
Sec. Point Para. Comm. Annex Chap. Sec. Point Para. OBSERVATIONS
1.5.4. “A” 2514 unique 1.1.1.4. Ref. Comm. “A” 2621, “A”
3075 and “A” 3244
1.5.5. “A” 2514 unique 1.1.1.6. 1st Ref. Comm. “A” 3244 and
“A” 4063, pt 1.
1.
1.5.6. “A” 3244 1.5.6. “A” 3244 2.
2.1. “A” 2514 unique 1.3.1.
2.1.1. “A” 2514 unique 1.3.1.1. 1st Ref. Comm. “A” 3075
2.1.1.1. “A” 2514 unique 1.3.1.1.1.
2.1.1.2. “A” 2514 unique 1.3.1.1.2.
2.1.1.3. “A” 2514 unique 1.3.1.1.3.
2.1.1.4. “A” 2514 unique 1.3.1.1.4.
2.1.1.5. "A" 2514 unique 1.3.1.1.5.
and
1.3.1.1.6. Ref. Comm. “A” 4936, “A”
4971 pt 2. and “A”
5000
2.1.1.6. “A” 2514 unique 1.3.1.1. last
2.1.1. last “A” 3075
2.1.2. “A” 2514 unique 1.3.1.2. Ref. Comm. “A” 3075
2.1.3. “A” 2514 unique 1.3.1.2.
2.1.4. “A” 2514 unique 1.3.1.2.
2.1. last “A” 3075
2.2. “A” 2514 unique 1.3.2.
2.2.1. “A” 2514 unique 1.3.2.1. Ref. Comm. “A” 3244 and
“A” 3249
2.2.2. “A” 2514 unique 1.3.2.2. Ref. Comm. “A” 3075
2.2.3. “A” 2514 unique 1.3.2.3. Ref. Comm. “A” 3244
2.2.4. “A” 2514 unique 1.3.2.4. Ref. Comm. “A” 3075
2.3. “A” 2514 unique 1.14.
2.3.1. “A” 2514 unique 1.14. 1st
2.3.2. “A” 2514
“A” 1199 unique I 1.14.
5.3.3.
2nd
2.3.3. “A” 2514 unique 1.14. 3rd
2.3.4. “A” 3075
2.3.4.1. “A” 3075
2.3.4.2. “A” 3075
2.3.4.3. “A” 1199 I 5.3.4.1. and
5.3.4.3.

2.3.5. “A” 627 1. Ref. Comm. “A” 3831
2.4. “A” 2514 unique 1.15. Ref. Comm. “A” 2779
2.
2.4.1. “A” 2514 unique 1.15.1. Ref. Comm. “A” 2779
“A” 3075
3.1. “A” 2514 unique 1.3.2.1. Ref. Comm. “A” 3075
3.2. 1st “A” 2864 1.
3.2.1. “A” 2864 1.1. Ref. Comm. “A” 3075
3.2.2. “A” 2864 1.2.
3.2.3. “A” 2864 1.3.
3.2.4. “A” 2864 1.4.
3.
3.2.5. “B” 6348 Ref. Comm. “A” 3075

REGULATION OF THE BANK CURRENT ACCOUNT
ORDERED TEXT ORIGIN NORM
Sec. Point Para. Comm. Annex Chap. Sec. Point Para.
OBSERVATIONS
5.1. “A” 2514 unique 1.3.4.
5.1.1. “A” 3244 5.1.1. Ref. Comm. “A” 3294, 3851,
4010, 4272, 4464, 4611,
4755, 4868, “B” 9402 and
“A” 4889
5.1.2. “A” 2514 unique 1.3.4.1. 1st Ref. Comm. “A” 4010, 4971
pt 3. and 5000
5.1.3. “A” 2514 unique 1.3.4.1. 2nd Ref. Comm. “A” 3075, 4971
pt 4. and 5000
5.1.4. 1st “A” 2514 unique 1.3.4.2. Ref. Comm. “A” 3075.
2nd “A” 3075
5.1.5. “A” 2514 unique 1.3.4.3.
5.1.6. “A” 2514 unique 1.3.4.4. Ref. Comm. A 3075 and 3244
5.1.7. “A” 2514 unique 1.3.4.6.
5.1.8. “A” 2514 unique 1.3.4.7.
5.2. “A” 2514 unique 1.2.2.6. 3rd
5.3. “A” 3075
5.4. “A” 3075
5.5. “A” 2514 unique 1.3.5.
5.5.1. “A” 2514 unique 1.3.5.1. and
1.9.2.

5.5.2. “A” 2514 unique 1.3.5.2.
5.5.3. “A” 2514 unique 1.3.5.3.
5.5.4. “A” 2514 unique 1.3.5.4. and
1.9.3.

5.5.5. “A” 2514 unique 1.3.5.5.
5.5.6. “A” 2514 unique 1.3.5.6.
5.5.7. “A” 2514 unique 1.3.5.7. Ref. Comm. “A” 3075
5.5.8. “A” 2514 unique 1.3.5.8.
5.6. “A” 2514 unique 1.3.6.
5.6.1. “A” 2514 unique 1.3.6. 1st Ref. Comm. “A” 3244
5.
5.6.2. “A” 2514 unique 1.3.6. 2nd “A” 2864 2.
6.1. “A” 2864 2.1.
6.1.1. “A” 2864 2.1.1.
6.1.1.1. “A” 2864 2.1.1.1. Ref. Comm. ”A” 3075
6.1.1.2. “A” 2864 2.1.1.2. Ref. Comm. “A” 3235
6.1.2. “A” 2864 2.1.2.
6.1.2.1. “A” 2864 2.1.2.1.
6.1.2.2. “A” 2864 2.1.2.2.
6.1.2.3. “A” 2864 2.1.2.3.
6.1.2.4. “A” 2864 2.1.2.4.
6.1.2.5. “A” 2864 2.1.2.5. Ref. Comm. “A” 3244 and “A”
4063, pt 1.
6.1.2.6. “A” 2864 2.1.2.6. Ref. Comm. “A” 3244
6.1.2.7. “A” 2864 2.1.2.7.
6.1.3. “A” 2864 2.1.3.
6.1.3.1. “A” 2864 2.1.3.1.
6.1.3.2. “A” 2864 2.1.3.2.
6.
6.1.3.3. “A” 2864 2.1.3.3.

REGULATION OF THE BANK CURRENT ACCOUNT
ORDERED TEXT ORIGIN NORM
Sec. Point Para. Comm. Annex Chap. Sec. Point Para.
OBSERVATIONS
6.4.7.3. “A” 2864 2.4.8. 8th Ref. Comm. “A” 2891, pt 2.,
“A” 3233, “A” 3244 and “A”
4063, pt 2.
6.4.7. last “A” 4063 2.
6.4.8. “A” 2864 2.4.9.
6.4.9. “A” 2864 2.4.10.
6.
6.5. “A” 4063 3.
“A” 2514 unique 1.3.9.
7.1. “A” 2514 unique 1.3.9. Ref. Comm. “A” 3075 and “A”
4971 pt 5.
7.2. “A” 2514 unique 1.3.9.1.
7.2.1. “A” 2514 unique 1.3.9.1.1.
7.2.2. “A” 2514 unique 1.3.9.1.2. Ref. Comm. “A” 3244
7.2.3. “A” 2514 unique 1.3.9.1.3. Ref. Comm. “A” 4579 and 4957.
7.3. “A” 2514 unique 1.3.9.2. 1st
7.3.1. “A” 3235 According to Comm. “A” 4971
pt 5.
7.3.1.1. “A” 2514 unique 1.3.9.2.1. Ref. Comm. “A” 3075
7.3.1.2. “A” 2514 unique 1.3.9.2.2.
7.3.1.3. “A” 2514 unique 1.3.9.2.3.
7.3.1.4. “A” 2514 unique 1.3.9.2.4. Ref. Comm. “A” 3075
7.3.1.5. “A” 4971 Ref. Comm. “A” 5000
7.3.2. “A” 3235
7.3.2.1. “A” 2514 unique 1.3.9.2.7.
7.3.2.2. “A” 2514 unique 1.3.9.2.5.
7.3.3. “A” 3235
1st “A” 3235 i) “A” 2514 unique 1.3.9.2.7. Ref. Comm. “A” 3235 7.3.3.1. ii) “A”2514 unique 1.3.9.2.5.
1st “A” 3235 i) “A” 2514 unique 1.3.9.2.6. Ref. Comm. “A” 3075 and “A” 3235 ii) “A” 2514 unique 1.3.9.2.7. Ref. Comm. “A” 3235 iii) “A” 2514 unique 1.3.9.2.8. Ref. Comm. “A” 3235 and “A” 3244 7. 7.3.3.2. iv) “A” 2514 unique 1.3.9.2.5. “A” 3244 8.
8.1. “A” 2514 unique 1.4.2. Ref. Comm. “A” 3075, “A”
3244 and “A” 4063, pt 1.,
“A” 4971 pt 6. and “A”
5000
8.2.1. “A” 2514 unique 1.4.2.1. 1st Ref. Comm. “A” 3075 and “A”
3235, “A” 3244 and “A”
4063, pt 1.
8.2.2. “A” 2514 unique 1.4.2.3. 1st Ref. Comm. “A” 3244 and “A”
4063, pt 1.
8.2.3. “A” 4971 6. Ref. Comm. “A” 5000
8.3. “A” 3075 Ref. Comm. “A” 3244 and “A”
4063, pt 1.
8.
8.3.1. “A” 3075 8.3.1.1. i) Ref. Comm. “A” 3207 and “A”
3244

REGULATION OF THE BANK CURRENT ACCOUNT
ORDERED TEXT ORIGIN NORM
Sec. Point Para. Comm. Annex Chap. Sec. Point Para.
OBSERVATIONS
8.3.2. “A” 3075 8.3.1.1. ii) Ref. Comm. “A” 3207 and “A”
3244
8.3.3. “A” 3075 10.1.1.1. ii) Ref. Comm. “A” 4971 pt 6.
8.3.4. “A” 3075 10.1.1.1. iii)
8.4. “A” 4063 1.
8.5. “A” 3244 8.4.
8.5.1. “A” 2514 unique 1.4.2.1. 2nd Ref. Comm. “A” 3075, “A”
3244 and “A” 3831
8.5.2. “A” 2514 unique 1.4.2.1. 3rd Ref. Comm. “A” 3244
8.5.3. “A” 3075 Ref. Comm. “A” 3244
8.5.4. “A” 3075 Ref. Comm. “A” 3244
8.6.1. “A” 2514 unique 1.6.3. last Ref. Comm. “A” 2576, pt
1.6., 4th paragraph and “A”
4063, pt 1.
8.6.2. “A” 2514 unique 1.5.3.2. Ref. Comm. “A” 3244 and “A”
4063, pt 1.
8.6.3. “A” 3075
8.6. last “A”3075 Ref. Comm. “A” 4063, pt 1.
8.7. “A” 3244 8.6. Ref. Comm. “A” 4063, pt
1., “A” 4971 pt 6. and “A”
5000
8.8. “A” 3244 8.7.
8.8.1. “A” 4063 1.
8.8.1.1. “A” 4063 1. Ref. Comm. “A” 4971 pt 6.
8.8.1.2. “A” 3075 10.3. Ref. Comm. “A” 3244
8.8.2. “A” 3137 Ref. Comm. “A” 3244 and “A”
4063, pt 1.
8.
8.9. “A” 2514 unique 1.7.
9.1. “A” 4063 1. Ref. Comm. “A” 4971
9.2. “A” 2514 unique 1.5. Ref. Comm. “A” 3244
1st “A” 2514 unique 1.5.2. Ref. Comm. “A” 3244 and “A” 4063, pt 1.
9.2.1. “A” 3075
9.2.1.1. “A” 2514 unique 1.5.2. 1st Ref. Comm. “A” 3075 and “A”
3169
9.2.1.2. “A” 2514 unique 1.5.2. 2nd Ref. Comm. “A” 3075 and “A”
3169 and “A” 3244
9.2.1.3. “A” 2514 unique 1.5.2. 3rd
9.2.1.4. “A” 3075 Ref. Comm. “A” 3169 and “A”
3244
9.2.2. “A” 2514 unique 1.5.2. 1st Ref. Comm. “A” 3075, “A”
3169 and “A” 3244
9.2.2.1. “A” 2514 unique 1.5.2. 1st Ref. Comm. “A” 3075, “A”
3169 and “A” 3244
9.3. “A” 2514 unique 1.5.
1st “A” 2514 unique 1.5.3.3. 1st and
2nd
9.3.1. Ref. Comm. “A” 3244
2nd “A” 2514 unique 1.5.2. 2nd and
5th
Ref. Comm. “A” 3244
9.
9.3.2. “A” 2514 unique 1.5.3.3. 3rd Ref. Comm. “A” 3075 and “A”
3244

It must proceed in the same manner when it has knowledge that an already issued bill of exchange has been lost, stolen, or altered. The notice may also be given by the dispossessed holder.
1.5.1.5. Report in writing to the cooperative credit union any change of address and return the booklets of bills of exchange in which the previous address appears.
1.5.1.6. Communicate to the cooperative credit union any modification of its bylaws, statutes, change of authorities or powers, and the revocation of the latter, particularly when it refers to the persons mentioned in point 1.3.2.6.
1.5.1.7. Return to the cooperative credit union all blank bills of exchange it holds at the time of requesting the closure of the account or within 5 business days of the date of having received the communication of the suspension of the bill of exchange payment service as a prior measure to the closure of the account or of the closure of the account.
1.5.1.8. Integrate the bills of exchange in pesos, draft them in the national language without advertising inscriptions, and sign them by hand.
Save outcrossings and amendments on the back of the bill of exchange, with the signature of the drawer.
It will not be admitted that the bills of exchange bear more than 3 signatures.
1.5.2. Obligations of the cooperative credit union.
1.5.2.1. Keep the accounts up to date.
1.5.2.2. Credit the amounts delivered to it for the credit of the demand account and the deposits of bills of exchange within the prevailing compensation periods.
1.5.2.3. Send to the holder, at most 8 calendar days after the end of each month and/or the shorter period established and under the conditions agreed upon, a statement with the detail of each of the movements that take place in the account -debits and credits-, whatever their concept, identifying the different types of transactions and the operations carried out on its own behalf or on behalf of third parties -in the latter case to the extent that the deposits are so identified by the corresponding endorsement- through a specific code that each entity implements for this purpose and the balances recorded in the period it covers, asking for its written consent. In the summary, the Uniform Bank Key (CBU) shall be stated so that the client can formulate its adherence to automatic debit services, the prevailing compensation period for the deposit operation of checks and other compensable documents, and the total amount debited in the period as "Tax on Financial Transactions".

DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 1. Operation
Version: 3rd. COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 6

2.1. Credits.
2.1.1. By deposits at the counter or ATMs.
When slips are used, they must contain, at minimum, the following data:
2.1.1.1. Name of the cooperative credit union.
2.1.1.2. Name and surname or corporate name of the holder and account number.
2.1.1.3. Deposited amount.
2.1.1.4. Place and date.
2.1.1.5. When it concerns deposits of bills of exchange, checks, and/or official nominative payment orders, the name of the cooperative credit union and/or drawee entity and the amount of each of the deposited documents.
2.1.1.6. Stamp of the receiving institution, unless mechanized security documents are used.
Regarding the performance of operations through ATMs, cooperative credit unions must have implemented computer security mechanisms that guarantee the genuineness of the operations.
2.1.2. Through transfers -including electronic-, telephone orders, via "Internet", etc.
Cooperative credit unions must have implemented computer security mechanisms that guarantee the genuineness of the operations.
2.1.3. By internal credits.
2.1.4. Others.
Except when deposit slips are used, cooperative credit unions must issue the pertinent record with the essential data of the operation, whatever the means used.
2.2. Debits.
2.2.1. By payment of bills of exchange. Debits for the sale of "counter bills of exchange" shall be contemplated.
2.2.2. Transfers, which must be ordered by the holder, whatever its form -personal, electronic, telephone, via "Internet", etc.-.

DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 2. Movement of accounts.
Version: 4th. COMMUNICATION “A” 5000 Validity:
29/10/2009 Page 1

4.1. Endorsement.
4.1.1. Limit.
The bills of exchange presented for collection until 12.31.09 may only contain the number of endorsements indicated below:
4.1.1.1. Sight bills of exchange: up to one endorsement.
4.1.1.2. Bills of exchange at a fixed day: up to 2 (two) endorsements.
Endorsements made by cooperative credit unions to obtain financing, in favor of a financial entity or a trustee of a financial trust, both included in the Financial Entities Law, and the successive transmissions in favor of other subjects of the same nature, are exempt from the limitations established in this point.
4.1.2. The bill of exchange issued in favor of a specific person, which does not possess the "non-negotiable" clause, shall be transferable by endorsement.
Bills of exchange with the cited condition ("non-negotiable") may also be transferred by endorsement, in the cases of transfers -first and successive- when issued:
4.1.2.1. In favor of cooperative credit unions.
4.1.2.2. In favor of financial entities.
4.1.2.3. In favor of trustees of financial trusts included in the Financial Entities Law, to the extent that they concern operations related to the trust.
In the cases of bills of exchange issued in favor of a specific person -with or without the "non-negotiable" clause- and delivered by its beneficiary to a third party for the collection management through its presentation at the counter or through its deposit in demand accounts opened in cooperative credit unions for electronic compensation, the signature and clarification of the principal or ordering party of the management and its personal identification number -according to the rules on "Valid Identification Documents"- in the case of natural persons or CUIT or CDI in the case of legal persons, must be stated on the back, regardless of the existence or not of the document that instruments the mandate. Additionally, regarding the legend to be stated on the back of the bills of exchange, the transmission conditions by mandate that govern said documents shall apply. The obligation to state the personal identification number or CUIT or CDI, as applicable, and the aforementioned legend falls, indistinctly, on the principal or ordering party and the agent or manager.
4.1.3. The signature to be inserted in a bill of exchange solely for the purpose of its collection or deposit shall not constitute an endorsement, serving for the purposes of identification of the presenter and, in the first case, serving as a receipt.

DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 4. Endorsement, special issuance modalities, and guarantee.
Version: 5th. COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 1

Endorsements inserted to carry out the collection management of the documents referred to in the third and fourth paragraphs of point 4.1.2. shall not be counted for the purposes of the limit established in point 4.1.1.
4.1.4. The endorsement must be pure and simple and shall contain the signature of the endorser, their full names and surname and identity document, and, if applicable, the name of the legal person represented and the capacity invoked.
For the purposes of presenting the bill of exchange for collection -directly at the drawee cooperative credit union or through another depositary intermediary-, the presenter must include their address when inserting their signature for identification purposes.
4.1.5. Partial endorsement is null.
4.1.6. The endorsement that does not contain the specifications established in point 4.1.4. does not prejudice the instrument or its transferability, and cannot be rejected for that deficiency.
4.1.7. The addition of sheets for the purpose of transmitting or guaranteeing the instrument shall only proceed for reasons of space. For this purpose, the intervening party to whom the addition corresponds must sign covering both the exhausted element and the new one.
4.1.8. In other aspects related to the figure of endorsement, what is provided in the Bill of Exchange Law applies.
4.2. Guarantee.
It shall contain, at minimum, the expression "for guarantee" or another equivalent, the signature of the guarantor, with indication of their full names and surname, and, if applicable, the name of the legal person represented and the capacity in which they act, their address, and, if applicable, the type and number of identity document, as provided in point 1.3.1.9. of Section 1.

DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 4. Endorsement, special issuance modalities, and guarantee.
Version: 3rd. COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 2

6.1. Scope.
The rules of this section apply to all promissory notes, to the promissory note forms that have or have not been delivered to clients, and/or to the special form to request them.

6.2. Obligations of the holder or, where applicable, the dispossessed holder.
6.2.1. Immediately notify the cooperative credit union of the contingency that occurred, by telephone or other appropriate means.
6.2.2. Personally ratify the complaint, by the close of business hours on the next business day, at the branch where the account is held, via a note with the following minimum data:
6.2.2.1. Name of the cooperative credit union and the branch where the account is opened.
6.2.2.2. Number and name of the account. When the complainant is a third-party dispossessed holder and does not have this information, it must be integrated directly by the cooperative credit union.
6.2.2.3. Reason for the complaint.
6.2.2.4. Type and numbers of the affected documents.
6.2.2.5. Full names of the complainants, type and number of the documents presented to establish their identification in accordance with point 1.3.1.9. of Section 1.
6.2.2.6. Attach the record of the corresponding complaint filed before the competent judicial authority in the place where the promissory note is to be paid or at the beneficiary's domicile.

6.3. Obligations of the cooperative credit union.
6.3.1. Inform, within 24 business hours following receipt of the complaint containing all identifying data of the promissory note, to the Central Bank of the Argentine Republic so that the documents mentioned in point 6.1., except the special form to request promissory note books, are included in the "Central of Promissory Notes Reported as Lost, Stolen, or Altered", in accordance with the procedure established in the corresponding operational guide to be disseminated by this Institution.
The information regarding these documents will be removed when the intervening cooperative credit union has informed, in accordance with the corresponding operational guide, of the presentation for collection or when it is appropriate to remove the promissory notes due to the application of what is provided in point 6.3.2. of this regulation.

6.3.2. In the event that the complainant has not filed the corresponding judicial complaint referred to in point 6.2.2.6., the drawee may enforce the reported promissory note presented for collection, or reject it on the grounds enumerated in point 5.1. of Section 5., except that provided in point 5.1.3.1., corresponding to the removal of the information from the "Central of Promissory Notes Reported as Lost, Stolen, or Altered".

6.3.3. When what is provided in point 6.2 has been complied with:
6.3.3.1. Reject the payment of promissory notes on the ground provided in point 5.1.3.1., under the responsibility of the complainant, when presented for collection, retaining the corresponding document.
6.3.3.2. Inscribed on the back of the promissory notes: "Promissory note (lost, stolen, or altered), according to complaint. Signature of the drawer differs. Insufficient available funds in account". In these last two cases, if applicable.
6.3.3.3. Photocopy the front and back of the rejected promissory note in duplicate.
6.3.3.4. Identify the presenter of the rejected promissory note, who must sign on the back of the corresponding photocopy, indicating the document exhibited.
When the collection process has been carried out with the intervention of a clearing house, the drawee cooperative credit union will send 2 photocopies of the value whose payment is rejected, and the depository entity will take charge of the identification task referred to in the previous paragraph, with subsequent return of one of those copies to the drawee cooperative credit union. In both cases, the presenter will be the recipient of the other photocopy certified by the drawee cooperative credit union.
6.3.3.5. Send the promissory note to the intervening Court.
6.3.3.6. Archive the proceedings related to the received complaint and the rejections made for this reason.

7.1. Administration.
The Central Bank of the Argentine Republic will administer the "Central of Rejected Promissory Notes" in which will appear the list of natural and legal persons in the private sector responsible for the rejections included and their eventual cancellations according to this regulation and the disqualification to operate in demand accounts by judicial order, constituted on the basis of the information provided by the cooperative credit unions and intervening courts. Likewise, it will administer the "Central of Promissory Notes Reported as Lost, Stolen, or Altered", which will include the information of the promissory notes and the promissory note forms that have or have not been delivered to clients, involved in the situation provided in point 6.2.2. The Central Bank of the Argentine Republic in its capacity as administrator of the Check and Rejected Promissory Notes Central and of those Reported as Lost, Stolen, or Altered and of the Central of Disqualified Account Holders, assumes no responsibility whatsoever for any inconsistencies, falsities, or errors in the data included in the mentioned databases, since this information is received from financial entities according to the procedure established in the corresponding operational guide.

7.2. Grounds for inclusion.
7.2.1. In the "Central of Rejected Promissory Notes".
Having incurred one or more rejections of promissory notes - at sight or at a fixed day - for:
7.2.1.1. Lack of sufficient available funds in the account.
7.2.1.2. Formal defects.
7.2.2. In the "Central of Disqualified Promissory Note Drawers".
7.2.2.1. Disqualification sanctions imposed by the Judiciary or for other legal reasons that have been notified to the financial system.
7.2.3. In the "Central of Promissory Notes Reported as Lost, Stolen, or Altered".
7.2.3.1. Having reported to the entity the loss, theft, or alteration of the documents mentioned in point 6.1., except the special form to request promissory note books.
7.2.3.2. Having reported by the entity the loss, theft, or alteration produced in any of its subsidiaries of the documents mentioned in point 6.1., except the special form to request promissory note books.

7.4.3. When it concerns promissory notes drawn on accounts in the name of legal persons, the inclusion will also be effected regarding their legal representative, even if they have not signed any of the documents that originate the measure.
7.4.4. Inclusion will not proceed regarding attorneys for the use of the demand account or persons simply authorized to sign promissory notes or holders, in reciprocal order accounts, insofar as they have not signed the rejected documents.

7.5. Information to the Central Bank of the Argentine Republic.
7.5.1. Information will be sent to the Central Bank of the Argentine Republic through the respective head office of each cooperative credit union, within 10 calendar days of having verified the fulfillment of any of the requirements provided.
7.5.2. It will adhere to what is provided in the relevant operational regime, based on the CUIT, CUIL, or CDI number, corresponding to the holders of the demand accounts and legal representatives, as well as those of the natural persons who signed the promissory notes that resulted in rejection.
7.5.3. The person responsible for the information regime and the external auditor of the cooperative credit union must verify compliance with the established requirements and procedures and their conclusions submitted annually in a special report, in accordance with the norms established in the matter.

7.6. Exclusion of included persons.
Persons who are disqualified by judicial decision or for other legal reasons will be excluded from the "Central of Disqualified Promissory Note Drawers" when the period provided in those decisions expires or, where applicable, when the circumstance is revoked by the intervening magistrate.

7.7. Lack of Information. Sanctions.
Cooperative credit unions that fail to comply with the obligation to inform of rejections, cancellations, or reports of promissory notes included in the "Central of Rejected Promissory Notes" and in the "Central of Promissory Notes Reported as Lost, Stolen, or Altered", within the time and manner established in the operational regime, may be sanctioned in accordance with Article 41 of the Financial Entities Law.

7.8. Opening of accounts with fake documentation.
Precautions must be taken to prevent the opening of accounts with fake, inauthentic documentation, or in the name of persons whose documents do not correspond to their presenters. In this matter, it is recommended that, in the absence of sufficient references or assurances regarding the new client, instructions be given so that prior to processing the deposit of checks, aspects such as the age of the account, its activity, permanence of deposits, and any other precaution that practice makes advisable are taken into account, without harming the legitimate interests of clients acting honestly. Entities must pay attention to the functioning of accounts with the purpose of preventing them from being used in relation to the development of illicit activities. Internal norms and procedures must be adopted to verify that the activity registered in the accounts is reasonable with respect to the activities declared by the clients.

1.5. Currencies.
1.5.1. Pesos.
1.5.2. United States Dollars.
1.5.3. Other currencies.
At the request of the entities, the Central Bank of the Argentine Republic may authorize the collection of deposits in other currencies.

1.6. Deposits and other credits.
1.6.1. Counter deposits under agreed conditions.
The receipts used must contain, at a minimum, the following data:
1.6.1.1. Name of the financial entity.
1.6.1.2. Names, surname, and account number.
1.6.1.3. Deposited amount.
1.6.1.4. Place and date.
1.6.1.5. When it concerns deposits of checks or official payment orders in favor of a specific person, the name of the drawee entity and the amount of each of the deposited documents.
In the case of bearer checks or checks in favor of a specific person - with or without the "non-negotiable" clause - and that are delivered by their beneficiary to a third party for collection management through counter presentation or through deposit into an account for electronic clearing, the signature and clarification of the principal or ordering party of the management and their personal identification number - according to the norms on "Valid Identification Documents" - must be inscribed on the back, in the case of natural persons, or CUIT or CDI in the case of legal persons, regardless of the existence or not of the document instrumenting the mandate. Additionally, one of the following expressions will be inserted: "in procuration", "value for collection", or "for its collection management", as a manifestation of the effects of that endorsement. The obligation to inscribe the personal identification number or CUIT or CDI, as applicable, and the aforementioned legend falls, indistinctly, on the principal or ordering party and the agent or manager.
1.6.1.6. Stamp of the receiving branch, unless mechanized security forms are used.
Alternative means such as magnetic cards or personal key identification may be used, guaranteeing the genuineness of the operations, extending the pertinent deposit record issued mechanically.

1.6.2. ATM deposits.
The pertinent record will be issued with the essential data of the operation.
Entities must have implemented computer security mechanisms that guarantee the genuineness of the operations.

1.6.3. Transfers - including electronic - telephone orders, via "internet", etc.
The record in the account statement (point 1.11.) will be proof of the operation.
Entities must have implemented computer security mechanisms that guarantee the genuineness of the operations.

1.6.4. Capitalized interest and other credits.

1.7. Withdrawal of funds.
1.7.1. By counter, under agreed conditions, through documents that meet the characteristics of a receipt.
Other alternative means such as magnetic cards or personal key identification may be used, guaranteeing the genuineness of the operations, extending the pertinent transaction record.

Subsequent to the date on which the entity receives the client's instruction, provided that the originating debit company and only in cases where the amount of the requested reversal exceeds $ 750, does not oppose the reversal because the billing difference has been effectively collected directly. When it concerns credit card settlements of open systems, in replacement of the aforementioned reversal procedure, entities must have implemented mechanisms that allow users to manage through them the reversal of coupons included in the settlements and the refund of the pertinent amounts that have been debited.

1.11. Account Statement.
At least quarterly and within 10 calendar days from the established closing date, entities must send to the holder a statement indicating the type of account in question in accordance with the deposit modalities authorized by the Central Bank, with the detail of each of the movements carried out in it - debits and credits -, whatever their concepts, identifying the different types of transactions and the operations carried out on their own account or on behalf of third parties - in the latter case to the extent that the deposits are thus identified by the corresponding endorsement - through a specific code that each entity implements for this purpose, and the balances registered in the period covered. The statement will state the Uniform Bank Key (CBU) so that the client can formulate their adherence to direct debit services, the current compensation period for the check deposit and other compensable documents operation, and, in the place determined by the entity, the total amount debited in the period as "Tax on Financial Transactions" and the tax identification key number (CUIT, CUIL, or CDI) of the account holders, according to the depository's records. It will be an obligation to record the data of up to three of their holders; when they exceed this number, the total quantity will also be indicated. If applicable, entities will inform the following minimum data:
1.11.1. When debits corresponding to the automatic debit service occur:

• Name of the service provider company, tax collection agency, etc., to which the debited funds were destined.
• Client identification in the company or entity (surname and name or code or account, etc.).
• Concept of the operation causing the debit (month, bimonth, installment, etc.).
• Debited amount.
• Debit date.
  1.11.2. When transfers are made:
  i) If the account belongs to the originator of the transfer:
• Discretionary information at the discretion of the originating company or individual.
• Amount transferred.
• Date of the transfer.
  ii) If the account belongs to the recipient of the transfer:
• Name of the originating person or company.
• CUIT, CUIL, or DNI number of the originator.
• Unique reference of the transfer.
• Total amount transferred.
• Date of the transfer.
  Conformity with the movement registered in the entity will be presumed if, within 60 calendar days of the respective period's expiration, a claim has not been filed with the entity.

1.12. Closure of accounts.
1.12.1. By decision of the holder.
Through presentation at the entity and withdrawal of the total balance (principal and interest).
The entity will provide confirmation of the respective closure.

1.12.2. By decision of the entity.
Proceeding will be possible when, in the judgment of the financial entity, the client has not complied with the operational conditions detailed in the procedures manual of point 5.10.
1.12.2.1. General procedure.
It will be communicated to the holders by mail via certified letter, granting a period of no less than 30 calendar days prior to proceeding with the closure of the account and transfer of funds to immobilized balances. Additionally, in the communication, reference will be made to the commission to be applied on those amounts and to the effective date.
1.12.2.2. Exception.
In the case of accounts registering balances lower than 50 times the value of the postal item called "certified letter plus" (basic service of up to 150 grs.) of the Argentine Post, a notice may be issued by means of a general publication, once, in two newspapers circulating in the localities where the branches of the respective entity are located.

3.7. Deposits and other credits.
3.7.1. Counter deposits under agreed conditions.
The receipts used must contain, at a minimum, the following data:
3.7.1.1. Name of the financial entity.
3.7.1.2. First and last names and account number.
3.7.1.3. Amount deposited.
3.7.1.4. Place and date.
3.7.1.5. When dealing with deposits of checks or official payment orders made payable to a specific person, the name of the drawee entity and the amount of each of the deposited documents.
In the case of checks payable to bearer or to a specific person - whether or not they contain the "non-negotiable" clause - and which are delivered by their beneficiary to a third party for collection management through counter presentation or via deposit into an account for electronic clearing, the back of the check must bear the signature and clarification of the principal or ordering party of the management and their personal identification number - according to the regulations on "Valid Identification Documents" - in the case of natural persons, or CUIT or CDI in the case of legal entities, regardless of the existence or not of the document instrumenting the mandate. Additionally, one of the following expressions shall be inserted: "in procuration", "value for collection" or "for its collection management", as a manifestation of the effects of that endorsement. The obligation to record the personal identification number or CUIT or CDI, as applicable, and the aforementioned legend falls, indistinctly, on the principal or ordering party and the agent or manager.
3.7.1.6. Stamp of the receiving house, unless mechanized security forms are used.
Alternative means such as magnetic cards or personal key identification may be used, which guarantee the authenticity of the operations, extending the pertinent deposit record issued mechanically.
3.7.2. Deposits in ATMs and self-service terminals within national territory.
The record shall be issued with the essential data of the operation.
3.7.3. Transfers - including electronic ones -, telephone orders, via "internet", etc.
The record of the operation in the account statement (point 3.13.) shall serve as proof of the operation.

B.C.R.A. SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS
Section 3. Basic Account.
Version: 7th. COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 3

3.7.4. Capitalized interest and other credits.
3.8. Withdrawal of funds.
3.8.1. By counter: under agreed conditions, through documents that meet the characteristics of a receipt.
Other alternative means such as magnetic cards or personal key identification may be used, which guarantee the authenticity of the operations, extending the pertinent record of the transaction.
3.8.2. Through ATMs and operations carried out via terminals at points of sale within national territory.
The pertinent record shall be issued with the essential data of the operation.
3.8.3. Transfers - including electronic ones -, telephone orders, via "internet", etc.
The record of the operation in the periodic statement (point 3.13.) shall serve as proof of the operation.
3.8.4. Internal debits, automatic payments for taxes and services, commissions and other concepts, under agreed conditions.
3.8.5. Purchases at affiliated merchants, made with debit cards.
The pertinent record shall be issued with the essential data of the operation.
3.8.6. Movements - regardless of their nature - shall not generate a debit balance.
3.9. Fee-free movements.
3.9.1. The following operations shall be fee-free:

• those channeled through any of the ATMs in the country belonging to the same financial entity that issued the debit card delivered to operate with the account,
• debits for purchases at merchants,
• debits for electronic transfers ordered via "home banking" and any other electronic means enabled by the entity, and
• direct debits.
  3.9.2. The following shall be fee-free for the client, per calendar month:
• two counter operations at the branch where the account is located,
• three operations carried out at ATMs of other financial entities in the country belonging to the same network in which the entity operates, and
• one operation at ATMs in the country belonging to another network.

SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS B.C.R.A. Section 3. Basic Account.
Version: 7th. COMMUNICATION “A” 5000 Validity:
29/10/2009 Page 4

4.4.5. Deposits and other credits.
4.4.5.1. Counter or ATM deposits.
When receipts are used, they must contain, at a minimum, the following data:
i) Name of the financial entity. ii) Trade name of the holder and account number. iii) Amount deposited. iv) Place and date. v) When dealing with deposits of checks or official payment orders made payable to a specific person, the name of the drawee entity and the amount of each of the deposited documents. In the case of checks payable to bearer or to a specific person - whether or not they contain the "non-negotiable" clause - and which are delivered by their beneficiary to a third party for collection management through counter presentation or via deposit into an account for electronic clearing, the back of the check must bear the signature and clarification of the principal or ordering party of the management and their personal identification number - according to the regulations on "Valid Identification Documents" - in the case of natural persons, or CUIT or CDI in the case of legal entities, regardless of the existence or not of the document instrumenting the mandate. Additionally, one of the following expressions shall be inserted: "in procuration", "value for collection" or "for its collection management", as a manifestation of the effects of that endorsement. The obligation to record the personal identification number or CUIT or CDI, as applicable, and the aforementioned legend falls, indistinctly, on the principal or ordering party and the agent or manager. vi) Stamp of the receiving house, unless mechanized security forms are used. Alternative means such as magnetic cards or personal key identification may be used, which guarantee the genuineness of the operations, extending the pertinent deposit record issued mechanically. Regarding the carrying out of operations via ATMs, entities must have implemented information security mechanisms that guarantee the genuineness of the operations and provide for the issuance of the pertinent record with the essential data of the operation.
4.4.5.2. Via transfers - including electronic ones -, telephone orders, via "Internet", etc.

B.C.R.A. SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS
Section 4. Specials.
Version: 4th. COMMUNICATION “A” 5000 Validity:
04/01/2010 Page 9

ORDERED TEXT ORIGIN NORM
Sec. Point Par. Com. Annex Ch. Sec. Point Par. OBSERVATIONS
1.1.1. "A" 1199
"A" 1820 I
I 2.
2.1.
S/Com. "A" 1823 - pt. 2°
S/Com. "A" 2192 - pt 1.
S/Com. "A" 2241 - Ch. I -
Section 1. and “A” 4368.
1.1.2. “A” 1199
“A” 1823
I 2.
2.1.

1.1.3. “A” 1199
“A” 1823
I 2.
2.1.

1.1.4. “A” 1199
“A” 1823
I 2.
2.1.

1.2. “A” 1653
“A” 1820 I
I 2.1.3.1.
2.2.
S/Com. “A” 2061- pt. 3.,
“A” 3247, pt.1 and “A” 4358
1.3. “A” 3042 1. 1.3.1. S/Com. “A” 3247 – pt. 1.
1° “A” 4809
2° “A” 1199 I 5.7. S/Com. “A” 4809.
3° “A” 1199 I 5.7.
4° “A” 2814 1. 1.1.1.1.
1.4.
5° “A” 2814 1. 1.1.1.2.
1.5.1. “A” 1199 I 2.
1.5.2. “A” 1820 I 2.3.
1.5.3. “A” 1820 I 2.3.
1.6. “A” 3042 S/Com. “A” 3247, “A” 4936,
4971 pt. 16. and 5000
1° “A” 1653 I 2.1.3.2.3. 1°
“A” 1820 I 2.5. 2°
1.7.1.
2° “A” 3042
1° “A” 1653 I 2.1.3.2.3. 2°
2° “A” 1653 I 2.1.3.2.3. 2°
1.7.2.
3° “A” 3042
1° “A” 1653 I 2.1.3.3. S/Com. “A” 2061 – pt. 3.
2° “A” 3042
1.7.3.
3° “A” 3042
1.7.4. “A” 1653 I 2.1.3.2.2.
1.7.5. “A” 3042
1° “A” 1653 I 2.1.1.1.
“A” 1820 I 2.4.
2° “A” 1653 I 2.1.1.1.
“A” 1820 I 2.4.
1.8.1.
3° “A” 3042
1.8.2. “A” 2468 1. 2°
1.9. “A” 2468 1 1°
1.9.1. “A” 1653 I 2.1.3.2.2.
3.3.

1° “A” 2508 Unique 1° S/Com. “A” 3323.
2° “A” 2621 1. 1°
1.
1.9.2.
3° “A” 2508 Unique 5°
B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE NORMS ON “SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS”

SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS ORDERED TEXT ORIGIN NORM Sec. Point Par. Com. Annex Ch. Sec. Point Par. OBSERVATIONS 4° “A” 3042
1.9.3. “A” 2468 1. 1°
1°
2°
3°
"A" 2468
"A" 2468
"A" 2468
1.
1.
1.
4°
5°
6°
2° “A” 2468 1. 5°
1.9.4.
3°
2°
3°
"A" 2468
"A" 2468
"A" 2468
1.
1.
1.
6°
5°
6°
1.10. 1° “A” 2621 3.
2° “A” 2508 Unique 3°
1° “A” 3042 S/Com. “A” 4809 and “A”
4971 pt. 16.
1.11.
2° “A” 3042 S/Com. “A” 3323, 4809 and 5000
1.11.1. “A” 2621 2.
1.11.2. “A” 3014 3. 3.7.1.6.
4° “A” 3042
1.12.1. “A” 3042
1.12.2. “A” 3042 S/Com. “A” 4809.
1.12.2.1 “A” 1199 I 5.2.2. 1° and 2°
. “A” 1653 I 2.1.3.4.
1.12.2.2
. “A” 1199 I 5.2.2. 3° S/Com. “A” 4809.
1.13. “A” 1199 I 6.3. S/Com. ”A” 2807-pto. 6
“A” 1820 I 2.6.
1.14. “A” 2530
1.
1.15. “A” 1653 I 2.1.3.5.
2.1. “A” 2590 I 4.4.1.
1° “A” 2590 I 4.4.2. 2.2. 2° “A” 2956
2.3. “A” 2590 I 4.4.3. S/Com. “A” 4047.
2.4. “A” 2590 I 4.4.4.
2.5. “A” 2590 I 4.4.5.
2.6. “A” 2590 I 4.4.6. S/Com. “A”4809.
2.7. “A” 2590 I 4.4.7.
2.8. “A” 2590 I 4.4.8.
“A” 2590 I 4.4.9. 2.9. “A” 2956
2.10. “A” 2590 I 4.4.10.
2.11. “A” 2590 I 4.4.11.
1° “A” 2590 I 4.4.12.
2° “A” 2590 I 2.
2.
2.12.
3° “A” 2956 2°
3.1. “A” 4809 1.
3.2. “A” 4809 1.
3.3. “A” 4809 1.
3.4. “A” 4809 1.
3.
3.5. “A” 4809 1.

SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS ORDERED TEXT ORIGIN NORM Sec. Point Par. Com. Annex Ch. Sec. Point Par. OBSERVATIONS
3.6. “A” 4809 1.
3.7. “A” 4809 1. S/Com. “A” 4936, 4971
pto. 17. and 5000
3.8. “A” 4809 1.
3.9. “A” 4809 1.
3.10. “A” 4809 1.
3.11. “A” 4809 1.
3.12. “A” 4809 1.
3.13. “A” 4809 1.
3.14. “A” 4809 1.
3.15. “A” 4809 1.
3.16. “A” 4809 1.
3.17. “A” 4809 1.
3.18. “A” 4809 1.
3.
3.19. “A” 4809 1.
“A” 1199 I 4.2.1. 4.1.1. “B” 6360
S/Com. “A” 4532 and “B”
9516.
1° “A” 1199 I 4.2.2. S/Com. “A” 3042 and “B”
4.1.2. 9516.
2° “A” 3042
4.1.3. “A” 1199 I 4.2.
4.1.4. “A” 1199 I 4.2.3. S/Com. ”A” 1877, pt.
3°.
4.1.5.1. “A” 1199 I 4.2.4.1.
4.1.5.2. “A” 1199 I 4.2.4.2.
4.1.5.3. “A” 1199 I 4.2.4.3.
4.1.6.1. “A” 1199 I 4.2.5.1.
4.1.6.2. “A” 1199 I 4.2.5.2.
4.1.6.3. “A” 1199 I 4.2.5.3.
4.1.6.4. “A” 1199 I 4.2.5.4.
4.1.7. “A” 1199 I 4.2.6. S/Com. “B” 9516.
4.1.7.1. “A” 1199 I 4.2.6.1. S/Com. “B” 9516.
4.1.7.2. “B” 9516
4.1.7.3. “A” 1199 I 4.2.6.2. S/Com. “B” 9516.
4.1.7.4. “A” 1199 I 4.2.6.4. S/Com. “B” 9516.
4.1.7.5. “A” 1199 I 4.2.6.3. S/Com. “B” 9516.
4.1.7.6. “A” 1199 I 4.2.6.5. S/Com. “B” 9516.
4.1.8.1. “A” 1199 I 4.2.7.1.
4.1.8.2. “A” 1199 I 4.2.7.2.
4.1.9.1. “A” 1199 I 4.2.8.1.
4.1.9.2. “A” 1199 I 4.2.8.2.
4.1.9.3. “A” 1199 I 4.2.8.3.
4.1.9.4. “A” 3042
4.1.10. “A” 1199 I 4.2.9. S/Com. “B” 9516.
4
4.2.1. “A” 1247 4.3.1.

SAVINGS DEPOSITS, REMUNERATION PAYMENTS AND SPECIALS ORDERED TEXT ORIGIN NORM Sec. Point Par. Com. Annex Ch. Sec. Point Par. OBSERVATIONS
4.2.2. “A” 1247 4.3.2.
4.2.3. “A” 1247 4.3.3.
4.2.4.1. “A” 1247 4.3.4.1. S/Com. “A” 3042.
4.2.4.2. “A” 1247 4.3.4.2.
4.2.5. “A” 1247 4.3.5.
4.2.6. “A” 1247 4.3.6.
4.2.7. “A” 1247 4.3.7.
4.2.8. “A” 1247 4.3.8.
4.3. “A” 1199 I 4.1.
4.4. “A” 3250 1.
4.4.1. “A” 3250 1.
4.4.2. “A” 3250 1.
4.4.3. “A” 3250 1.
4.4.4. “A” 3250 1.
4.4.5. “A” 3250 1. S/Com. “A”4936, 4971
pto. 18. and 5000
4.4.6. “A” 3250 1.
4.4.7. “A” 3250 1.
4.4.8. “A” 3250 1.
4.4.9. “A” 3250 1.
4.4.10. “A” 3250 1. S/Com. “A” 3323, “A”
3014 pt 3.7.1. and 4809.
4.4.11. “A” 3250 1.
4.4.12. “A” 3250 1.
4.4.13. “A” 3250 1.
4.4.14. “A” 3250 1.
4.5. “A” 3583 1 S/Com. “A” 3827, pt.
3.
4.
4.6. “A” 3566 1. S/Com. “A” 4602,
points 1 and 2.
5.1. "A" 3042
5.1.1. "A" 2885 1.
5.1.2. "A" 2885 2. 2.2.
5.1.3. "A" 2885 2. 2.3.
5.1.4. "A" 2885 2. 2.4.
5.1.5. "A" 2885 2. 2.5. and 2.6.
5.1.6. "A" 3042
5.2. “A” 1891 S /Com. "A" 1922 and “A”
3323 and “A” 4875.
1° "A" 2530 1°
2° "A" 2530 3° and 4°
5.3.1.
3° "A" 2530 5°
5.
5.3.2. "A" 2530 2°