Communication "A" 5847: Net Global Foreign Currency Position - Adjustment

"2015 - YEAR OF THE BICENTENNIAL OF THE CONGRESS OF THE FREE PEOPLES" COMMUNICATION "A" 5847 09/12/2015 TO FINANCIAL INSTITUTIONS:
Ref.: Circular
LISOL 1 - 652
Net global foreign currency position.
Adjustment.

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We address you to inform you that this Institution adopted the resolution that, in its pertinent part, provides:
"1. Incorporate, with effect from 9.12.15, in point 1.2. of the rules on 'Net global foreign currency position' the following:
"1.2.3. The net assets in foreign currency (including derivatives) recorded by the financial institution in its branches abroad, at the measurement date. This amount may not exceed that recorded as of 20.11.15. The amount determined as the maximum deductible shall be converted to pesos at the exchange rate applicable at the measurement date." Likewise, we inform you that we will subsequently send you the pages that, in replacement of those previously provided, should be incorporated into the rules of reference as a consequence of the measure adopted. We greet you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Juan C. Isi Principal Manager of Issuance and Regulatory Applications Deputy General Manager of Rules