2018 - YEAR OF THE CENTENARY OF THE UNIVERSITY REFORM

COMMUNICATION “A” 6462
06/03/2018

TO FINANCIAL INSTITUTIONS,
TO FOREIGN EXCHANGE OPERATORS,
TO NON-FINANCIAL COMPANIES ISSUING CREDIT CARDS, TO TRUSTEES OF FINANCIAL TRUSTS INCLUDED IN THE LAW ON FINAN- CIAL INSTITUTIONS, TO REPRESENTATIVES OF FOREIGN FINANCIAL INSTITUTIONS NOT AUTHORIZED TO OPERATE IN THE COUNTRY, TO NON-FINANCIAL COMPANIES ISSUING PURCHASE CARDS:

Ref.: Circular
OPASI 2 - 542
RUNOR 1 - 1384
CIRMO 3 - 83
CAMEX 1 - 795
OPRAC 1 - 933
SINAP 1 - 69

Communication "A" 6419. Updates.

We address you to send you the pages that, in replacement of those previously provided, should be incorporated into the rules on “Application of the deposit guarantee insurance system”, “Investment deposit certificates (CEDIN)”, “Monetary circulation”, “Communication by electronic means for environmental care”, “Demand accounts opened in cooperative credit banks”, “Savings deposits, salary account and special accounts”, “Time deposits and investments”, “Foreign exchange and exchanges”, “Financing line for production and financial inclusion”, “Minimum security measures in financial institutions”, “Protection of users of financial services”, “Regulation of the bank current account”, “Representatives of foreign financial institutions not authorized to operate in the country”, “National Payment System - Transfers” and “Interest rates on credit operations”, based on the resolution announced through Communication “A” 6419.

Likewise, it is recalled that on the website of this Institution www.bcra.gob.ar, by accessing “Financial System - LEGAL AND REGULATORY FRAMEWORK - Compilations and summaries - Ordered texts of general regulations”, you will find the modifications made with texts highlighted in special characters (strikethrough and bold).

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Mirta M. Noguera
Applications Manager
Regulations
Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications

ANNEX

B.C.R.A.
ORDERED TEXT OF THE RULES ON “COMMUNICATION BY ELECTRONIC MEANS FOR ENVIRONMENTAL CARE”

-Index-

Section 1. General aspects.

1.1. Subjects covered.

1.2. Compliance criteria.

1.3. Cost of the information service.

1.4. Other conditions.

Section 2. Exceptions to the sending of information by electronic means.

Section 3. Other operations by electronic means.

3.1. Opening and closing of accounts.

3.2. Revocation and termination of contractual relationships.

Section 4. Information to be disseminated in customer service premises.

4.1. Subjects covered.

4.2. Authorized means of dissemination.

4.3. Models and location of signage.

4.4. Mandatory dissemination information.

4.5. Signage models with relevant information for users of financial services.

4.6. Information suggested for dissemination to financial institutions and foreign exchange operators.

Section 5. Information to be disseminated through the institutional website and Internet banking (“home banking”).

5.1. Subjects covered.

5.2. Models and location of the information.

5.3. Mandatory dissemination information.

Correlation table.

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Section 4. Information to be disseminated in customer service premises.

4.1. Subjects covered.

In addition to the subjects mentioned in points 1.1.1. and 1.1.2., foreign exchange operators and representatives of financial institutions from abroad not authorized to operate in the country must comply with the mandatory information dissemination requirements provided in the pertinent part for each obligated subject in point 4.4. and take into consideration the suggested dissemination information provisions of point 4.6.

4.2. Authorized means of dissemination

The mandatory or suggested dissemination information provided in points 4.4. and 4.6. may be displayed by electronic signage (screen or monitor) or on paper – this option may be defined per branch –. In the first case, rotating display of the signage is permitted, and each information must remain for the time that allows its complete reading. The mandatory dissemination information must be displayed – in a rotating manner – during the entire customer service hours, and all the posters must be projected at least every 20 minutes, and information from the obligated subjects and/or required by other control entities may be incorporated – as long as there is no provision to the contrary by the respective entities –.

4.3. Models and location of the signage

When deemed necessary, the Central Bank of the Argentine Republic (BCRA) will disseminate information models for electronic and paper signage and/or expressly establish the location where certain signage must be displayed.

The respective models must be downloaded from the BCRA website (www.bcra.gob.ar). When models are published, the dissemination requirement will only be considered fulfilled when the information provided to the public and its display format are those supplied in the cited model and/or the signage is displayed in the manner and places required.

In the event that the BCRA does not provide a signage model and/or does not require a specific location and/or the models do not have specific size and location requirements, the information dissemination requirement will be considered fulfilled as long as it is displayed in full, occupies a prominent place – in terms of visibility and size – and has a font such that it allows its customers a clear and precise reading of the information provided.

4.4. Mandatory dissemination information.

4.4.1. Financial institutions.

They must mandatorily disseminate by displaying signage on electronic screen or on paper the following information:

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Section 4. Information to be disseminated in customer service premises.

4.4.1.1. The one provided in point 4.5.

4.4.1.2. On the interest rates for overdrafts without agreements in current account and the compensatory and punitive interest rates for credit card financing that they offer to their customers, for transactions in pesos with the following detail:

i) Nominal annual interest rate.

ii) Effective annual interest rate.

iii) Total financial cost.

iv) The highest and the lowest of the interest rates, when with respect to the mentioned lines there is more than one rate, with its expression in the terms of the preceding points.

In all cases, the rates must be expressed in percent with two decimals.

The total financial cost must be placed in a privileged place with respect to the rest of the variables exposed, and in a font in a highlighted color, of identical source and of a size at least five times larger – preserving all the proportions of stroke thickness, height and width – than the one used to inform the level of the nominal annual rate.

4.4.1.3. On the interest rate, in percent with two decimals, of fixed-term deposits in pesos corresponding to the shortest term that they offer to their customers with the following detail:

i) Nominal annual interest rate.

ii) Effective annual interest rate.

4.4.1.4. The scope of the deposit guarantee Law 24.485 and complementary norms (type of operation, its condition of being included or not in the regime, guaranteed percentage and amount, exceptions, etc.), in accordance with the provisions of point 6. of the norms on “Application of the deposit guarantee insurance system”.

4.4.1.5. On the retail exchange rates offered by the entity. In every place where exchange operations are carried out in bills and traveler's checks with customers, the retail exchange rates offered by the entity must be displayed, specifying separately any expense or commission if any, for the purchase and sale of bills and traveler's checks of the currencies with the highest volume of operation.

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COMMUNICATION BY ELECTRONIC MEANS FOR
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Section 4. Information to be disseminated in customer service premises.

Entities authorized to operate in foreign exchange must refrain from operating in bills and traveler's checks with customers in the premises where for any reason, it is not possible to comply with the requirements established in the preceding paragraph.

The retail exchange rate for bills displayed on the signage must be understood as applicable to exchange sale operations regardless of the denomination of the bills in foreign currency.

4.4.1.6. About the use of automatic teller machines. This information must be provided visibly in the premises where the automatic teller machines are located.

The following are the recommendations and precautions that, at a minimum, must be communicated to users:

i) Request from the financial entity's staff all the information they deem necessary regarding the use of ATMs upon first accessing the service or in the event of any doubt that may subsequently arise.

ii) Change the identification or access code or personal key or password ("password", "PIN") assigned by the entity, for one that the user selects, which must not be their personal address or date of birth or any other number that can be easily obtained from documents kept in the same place as their card.

iii) Do not disclose the personal key number or write it on the magnetic card provided or on a piece of paper kept with it, since said code is the key to entering the system and therefore to your accounts.

iv) Do not enter the personal key in the presence of other people, even if they intend to help you, nor provide the magnetic card to third parties, since it is for personal use.

v) Keep the magnetic card in a safe place and periodically verify its existence.

vi) Do not use ATMs when there are messages or abnormal operating situations.

vii) When making a deposit transaction, ensure that you insert the envelope containing the cash or checks together with the first receipt issued by the ATM during the process of that transaction, into the specific slot for that function, and remove the receipt that the machine provides at the end of the transaction, which will serve you for any subsequent claim.

viii) Do not forget to remove the magnetic card at the end of the transactions.

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COMMUNICATION BY ELECTRONIC MEANS FOR
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Section 4. Information to be disseminated in public service areas.

ix) If the ATM retains your card or does not issue the corresponding receipt, immediately report that situation to the financial entity with which you operate and to the bank administering the ATM.

x) In the event of loss or theft of your card, immediately report this situation to the financial entity that issued it.

xi) In the event of withdrawals where there are differences between the receipt issued by the ATM and the amount actually withdrawn, report that circumstance to the financial entity where the transaction was made and the system administrator, in order to resolve the problem.

4.4.1.7. Related to the User Service for financial services users with the following detail:

i) The existence of this service.

ii) The names and surnames of the persons responsible (holder and alternate/s) designated before the BCRA for this service and those of their representatives that are pertinent according to the branch and/or region, together with the contact details of all of them (work addresses –postal and email–, telephone and fax numbers).

iii) The different alternative means among which the financial services user may choose to channel their inquiry or claim.

iv) The service procedure and the maximum period of twenty (20) business days to respond to and definitively resolve inquiries and claims.

v) That cases of lack of response from the obligated subjects or disagreement with the resolutions adopted by them may be reported by financial services users to the BCRA.

vi) Inform that the BCRA has a Financial Services User Protection area that can be contacted by entering www.usuariosfinancieros.gob.ar.

4.4.2.Exchange operators.

They must disseminate the information detailed in points 4.4.1.5., 4.4.1.7. and 4.5.1. in the modalities provided therein.

4.4.3.Non-financial companies issuing credit and/or purchase cards.

They must disseminate the information detailed in points 4.4.1.2., 4.4.1.7. and 4.5.1. in the modalities provided therein.

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Section 4. Information to be disseminated in public service areas.

4.4.4.Representatives of foreign financial entities not authorized to operate in the country.

They must disseminate, by displaying paper or electronic signage in the premises where the representative carries out their activities, the following information:

"In accordance with the legislation and regulations in force, the status of representative of a foreign financial entity not authorized to operate in the country does not authorize the collection of funds from the public for itself or for the represented foreign financial entity. The representative in such capacity is also not authorized to carry out foreign exchange transactions under the terms of Law 18.924, on Exchange Houses, Agencies and Offices. Non-compliances related to the improper collection of funds are subject to the application of the sanctions provided in art. 41 of the Financial Entities Law, while those related to foreign exchange operations will give rise to the application of the Foreign Exchange Penal Regime."

4.5. Models of signage with relevant information for financial services users.

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Section 4. Information to be disseminated in public service areas.

4.5.1.

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Section 4. Information to be disseminated in public service areas.

4.5.2.

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Section 4. Information to be disseminated in customer service premises.

4.5.3.

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Section 4. Information to be disseminated in customer service premises.

4.5.4.

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Section 4. Information to be disseminated in customer service premises.

4.6. Information suggested for dissemination to financial institutions and foreign exchange operators.

They are recommended to disseminate, by displaying paper or electronic posters, information on the characteristics of the circulation banknotes of the Argentine Native Animals Family, reproducing their respective designs.

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COMMUNICATION BY ELECTRONIC MEANS FOR
CARING FOR THE ENVIRONMENT
B.C.R.A.
Section 5. Information to be disseminated through the institutional website and online
banking (“home banking”).

5.1. Subjects covered.

The subjects mentioned in points 1.1.1. and 1.1.2. must comply with the requirements for dissemination of mandatory information through the institutional website and/or online banking (“home banking”), as applicable, provided for in point 5.3.

5.2. Models and location of the information.

The obligated subjects must publish at the bottom of the home page of their institutional website a link, whose model must be downloaded from the BCRA website (www.bcra.gob.ar), which will redirect to the website www.usuariosfinancieros.gob.ar. In turn, they must include on their website a section titled “Information for the financial user” that allows access to all the mandatory dissemination information provided for in point 5.3.

Such elements may be included in the online banking service (“home banking”) – if they provide such service –.

Access to the “Information for the financial user” section must be easy, direct and occupy a visible place on the aforementioned page. The URL address corresponding to the aforementioned section must be reported to the BCRA for publication on the website www.usuariosfinancieros.gob.ar.

5.3. Mandatory dissemination information.

5.3.1.Financial institutions

5.3.1.1. They must mandatorily disseminate through their institutional website the following information:

i) The information provided for in point 4.4.1. – except point 4.4.1.6. –.

ii) Of all the products and/or services, own or third-party, offered to users of financial services, report all commissions, charges, interest rates and total financial cost that the latter must pay.

In the case of products and/or services whose conditions vary based on certain parameters set by the obligated subject (age, term, amount, employee or retiree status, with or without payment of salaries through the obligated subject, etc.), the aforementioned information must be published in a disaggregated form for each of the variants of the product and/or service in question.

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COMMUNICATION BY ELECTRONIC MEANS FOR
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B.C.R.A.
Section 5. Information to be disseminated through the institutional website and online
banking (“home banking”).

They must also report the promotions and discounts offered, with precise indication of the start and end dates, as well as their modalities, conditions and limitations.

The information must be complete, clear and disaggregated by concept.

A single hyperlink or hyperlink may be used to comply with this requirement, to the extent that the information provided forms part of the official page of the obligated subject.

These publications bind these obligated subjects for the entire time they are available on their institutional Internet site and until they are replaced.

5.3.1.2. They must disseminate through the Internet banking service (“home banking”) the following information:

i) The information provided in point 5.3.1.1. (when the entity has opted as indicated in the second paragraph of point 5.2.).

ii) At the time of contracting any product and/or service through Internet banking (“home banking”) and prior to its acceptance, the user must be informed of the data that make up the settlement of the transaction. At the same time, they must inform the client of the means available in the event that they wish to revoke acceptance or terminate the contractual relationship.

5.3.2. Non-financial companies issuing credit and/or purchase cards.

They must mandatorily disseminate through their institutional website the information provided in points 4.4.1.2., 4.4.1.7., 4.5.1. and subsection ii) of point 5.3.1.1.

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B.C.R.A.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “COMMUNICATION BY ELECTRONIC MEANS FOR ENVIRONMENTAL CARE”

ORDERED TEXT			SOURCE RULE				OBSERVATIONS
Sec.	Point	Parr.	Com.	Annex Chap. Sec.	Point	Parr.
1.	1.1.		“A” 5886
	1.1.1.		“A” 5886
	1.1.2.		“A” 5886
	1.1.3.		“A” 5886
	1.1.4.		“A” 5886
	1.2.		“A” 5886
	1.2.1.		“A” 5886
	1.2.2.		“A” 5886
	1.2.3.		“A” 5886
	1.2.4.		“A” 5886				S/Com. “A” 6279 and 6348.
	1.2.5.		“A” 5886
	1.3.		“A” 5886
	1.4.		“A” 5886
	1.4.1.		“A” 5886
	1.4.2.		“A” 5886
	1.4.3.		“A” 5886
	1.4.4.		“A” 5886
	1.4.5.		“A” 5886
2.	1°		“A” 5886
	2.1.		“A” 5886
	2.2.		“A” 5886
3.	3.1.		“A” 6042			10.
	3.2.		“A” 6042			11.	S/Com. “A” 6188.
4.	4.1		“A” 6419			1.	S/Com. “A” 6462.
	4.2.		“A” 6419			1.
	4.3.		“A” 6419			1.
	4.4.		“A” 6419			1.	S/Com. “A” 6462.
	4.5.		“A” 6419			1.
	4.6.		“A” 6419			1.	S/Com. “A” 6462.
5.	5.1.		“A” 6419			2.
	5.2.		“A” 6419			2.
	5.3.		“A” 6419			2.

Index -

3.7. Savings bank intended for authorized minors.

3.8. Special investment (Resolution No. 4/17 of the Financial Information Unit).

3.9. Demand accounts for purchases in stores.

Section 4. General provisions.

4.1. Identification.

4.2. Tax situation.

4.3. Recommendations for the use of automated teller machines.

4.4. Interest rates.

4.5. Return of deposits.

4.6. Frozen balances.

4.7. Discriminatory acts.

4.8. Closure of non-operational accounts.

4.9. Procedures manual.

4.10. Transfer service. Charges and/or commissions.

4.11. Teller transactions.

4.12. Name of demand deposit accounts.

4.13. Special customer identification procedures in matters of international tax cooperation.

4.14. Transactions at the country's ATMs not operated by financial institutions.

4.15. Deposit accounts for guarantees of futures and options transactions.

4.16. Opening of accounts remotely.

Section 5. Transitional provisions.

Correlation table.

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B.C.R.A.
SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS
Section 1. Savings bank.

Commissions and/or charges must be detailed, mentioning amounts and percentages, as well as the dates and/or frequency of those debits, including, among others, those corresponding to:

Account opening.
Account maintenance.
Issuance and sending of account statements or automatic debits.
Teller transactions – in accordance with the conditions set forth in point 4.11. – or with the entity's ATMs.
Settlement of securities presented for collection or of checks excluded from the clearing house system.
Rejection of third-party checks.
Provision of deposit slips.
Issuance and delivery of debit cards or cards for use at ATMs. Entities may not charge fees or commissions for replacements of debit cards made in compliance with the minimum security requirements established in the rules on “Minimum requirements for the management, implementation and control of risks related to information technology, information systems and associated resources for financial institutions”.
Automatic debits.
Use of ATMs of other entities or networks in the country or abroad.
Third-party deposits (collections).
After-hours deposits.
Signature certification.
Frozen balances.

1.10.4. Any modification to the agreed conditions must be made in accordance with the provisions of point 2.3.4. of the rules on “Protection of users of financial services”.

Funds improperly debited for commissions and/or charges must be refunded to the account holders in accordance with the provisions of point 2.3.5. of the rules on “Protection of users of financial services”.

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SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS B.C.R.A.
Section 1. Savings bank.

The entity shall provide proof of the respective closure.

1.13.2. By decision of the entity.

It shall proceed when, in the judgment of the financial entity, the customer has failed to comply with the operating conditions detailed in the procedures manual of point 4.9.

1.13.2.1. General procedure.

Account holders shall be notified by mail by certified item, granting a period of no less than 30 consecutive days before proceeding with the closure of the account and transfer of the funds to frozen balances.

In addition, the communication shall refer to the commission to be applied on those amounts and the effective date.

1.13.2.2. Exception.

In the case of accounts with balances lower than 50 times the value of the postal item called “certified letter plus” (basic service of up to 150 grs.) of the Correo Oficial de la República Argentina S.A., notice may be given by means of a general publication, once, in two newspapers circulating in the localities where the respective entity's branches are located.

Such publication, which shall contain the data set forth in point 1.13.2.1., may be made by each participating entity, by a group of entities or by the associations that group them, with express mention of the entities that will apply the provision.

1.14. Deposit guarantee.

The status of the account with respect to the deposit guarantee insurance system shall be specified.

The incorporation of the corresponding legends shall be made in accordance with the provisions of point 6. of the rules on “Application of the deposit guarantee insurance system”.

1.15. Recommendations for the use of ATMs.

At the time of opening an account that involves the delivery of cards to operate with ATMs, the account holder shall be notified of the recommendations and precautions to be taken for their use, in the terms contained in point 4.3.

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SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS B.C.R.A.
Section 2. Payroll/social security account.

2.3.2.1. Through all ATMs enabled in the country by any financial institution, without limits on amount (except those expressly agreed for security reasons and/or resulting from operational restrictions of the equipment) or on the number of withdrawals, and without any distinction between customers and non-customers.

In order to allow the total withdrawal of the account balance through this channel, paying financial institutions may provide, at no cost to the worker or beneficiary, for rounding up the amount to be paid, advancing funds for up to $ 99.99 in accordance with the availability of cash in the ATMs, deducting from the next credited salary the amount effectively advanced.

2.3.2.2. Over the counter, in accordance with the conditions set forth in point 4.11.

2.3.2.3. Through purchases and/or cash withdrawals at affiliated merchants, made with the debit card.

2.3.2.4. Payment of taxes, services and other items through electronic channels (ATM, Internet banking –“home banking”–, etc.) or through the automatic debit system, without limit on enrollments.

2.3.2.5. Transfers made through electronic means –e.g.: ATM or Internet banking (“home banking”)–.

Transactions –whatever their nature– in these accounts may not generate an overdraft balance.

2.4. Debit card.

A magnetic card must be provided –at no charge– that allows them to operate with the ATMs and carry out the other operations provided for in point 2.3.2., to the holder of the payroll account and to the co-holder.

In the case of a social security account, a magnetic card shall be provided to the beneficiary and to his/her attorney-in-fact –if applicable–, and its delivery to the beneficiary shall not be pertinent when a legal representative has been designated, in which case delivery shall be made to the latter.

Replacements caused by demagnetization, deterioration (in the latter case up to one per year) and/or compliance with the minimum security requirements established in the rules on “Minimum requirements for the management, implementation and control of risks related to information technology, information systems and associated resources for financial institutions” shall not have any cost.

2.5. Account statement.

A semiannual statement shall be issued, at no charge, with the detail of the transactions recorded in the account, which shall be sent to the holder's address unless the holder expressly opts otherwise.

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3.1.9. Other provisions.

3.1.9.1. Upon opening the account, the bank shall deliver to the employer, against signed receipt, two copies of the complete and updated text of these rules, one of which must, in turn, be delivered to the worker.

3.1.9.2. Employers are obliged to immediately notify the banks of changes of address, as well as those of the corresponding workers, as soon as they become aware of them.

3.1.9.3. At the end of the first two-month period of each year, the banks shall send to IERIC a list –as of 31 December of the previous year– of the accounts that have had no movement for 12 months, indicating the worker's name and document, the employer's name and registration number, the balance as of the information date and the date of the last movement.

3.1.9.4. The situation of the account with respect to the deposit guarantee insurance system shall be specified in accordance with the provisions of point 6. of the rules on “Application of the deposit guarantee insurance system”.

3.1.9.5. The worker and the employer may request from the financial institution the account balance and the detail of the deposits made. Without prejudice to the foregoing, the entities shall send monthly to the worker's email address –if it has been provided– a statement with the detail of the transactions and balances recorded in the period covered.

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In addition, the communication shall refer to the commission to be applied on those amounts upon expiration of the aforementioned term.

3.4.12. Deposit guarantee.

The situation of the account with respect to the deposit guarantee insurance system shall be specified.

The incorporation of the corresponding legends shall be made in accordance with the provisions of point 6. of the rules on “Application of the deposit guarantee insurance system”.

3.4.13. Recommendations for the use of ATMs.

At the time of opening an account that involves the delivery of cards to operate with the ATMs, the holder shall be notified of the recommendations and precautions to be taken for their use, in the terms contained in point 4.3.

3.4.14. Proof of delivery of information to the customer.

The entities shall keep on file the proof that the customer has been notified that the text of these regulatory rules and their eventual updates are available at the entity, also indicating that they may be consulted through the Internet at the address www.bcra.gob.ar, an aspect that shall also be recorded in the account statements referred to in point 3.4.10.

3.5. Savings account for the payment of social assistance plans or programs.

3.5.1. Opening.

Financial entities shall open these accounts at the request of the National Social Security Administration (ANSES) or of the entity administering the corresponding payments, in the name of the holders informed by those agencies and –where applicable– to the order of an attorney-in-fact or legal representative (guardian, curator, etc.), providing at a minimum in all cases: full surname(s) and given name(s) and national identity document.

Simple associations benefiting from social assistance programs implemented by the Ministry of Social Development may open these accounts to credit exclusively those funds.

This account shall also be used for credits intended for the crediting of social assistance benefits under the responsibility of the provincial jurisdictions and the Autonomous City of Buenos Aires that adhere to the terms of Law 26.704.

3.5.2. Identification of holders.

It shall be verified by presenting the holders' national identity document, in accordance with the provisions of article 14 ter –subparagraph b– of Law 24.714 and amendments.

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With respect to simple associations benefiting from social assistance programs implemented by the Ministry of Social Development, it shall be verified by means of the documentation detailed in point 3.4.2., without registration in the Public Registry of the corresponding jurisdiction being necessary.

3.5.3. Deposits.

The benefits corresponding to the universal child allowance for social protection (Decree No. 1602/09), family allowances (article 7 of Decree No. 614/13) –when the beneficiary does not have an open salary/social security account– or social assistance plans or programs implemented by the National Government and other jurisdictions (articles 3 and 4 of Law 26.704), tax refunds, promotions of the financial entity and other concepts derived from the same benefit or payment, shall be credited in pesos.

Likewise, deposits for any concept additional to the credits of the aforementioned benefits shall be allowed up to the amount equivalent to 2 (two) times the Minimum, Vital and Mobile Wage –established by the National Council for Employment, Productivity and the Minimum, Vital and Mobile Wage for monthly-paid workers who work the full legal working day–, per calendar month.

3.5.4. Transactions without charge.

At a minimum, the following operations:

Opening and maintenance of account.
Credits –as provided in point 3.5.3.–.
Withdrawals of funds through all automated teller machines enabled in the country by any financial entity, without limits on amount (except those expressly agreed for security reasons and/or resulting from operational restrictions of the equipment) or on the number of withdrawals, nor any distinction between customers and non-customers.

In order to allow the total withdrawal of the account balance by this means, the paying financial entities may provide, at no cost to the beneficiary, for rounding up of the amount to be paid, advancing funds for up to $ 99.99 in accordance with the availability of cash in the automated teller machines, deducting from the next credited balance the amount effectively advanced.

Additionally, all automated teller machines enabled in the country by any financial entity must inform, through their respective screens, the date corresponding to the next payment of the universal child allowance for social protection, in accordance with the information provided by ANSES.

Cash withdrawals over the counter, in accordance with the conditions provided in point 4.11.
Purchases and/or cash withdrawals in affiliated merchants, made with the debit card.

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Effective date:
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SAVINGS DEPOSITS, SALARY ACCOUNT AND SPECIAL ACCOUNTS B.C.R.A.
Section 4. General provisions.

4.1. Identification.

4.1.1. Natural persons.

At the time of opening the account, natural persons who are holders or to whose order an account is registered, legal representatives of legal persons, etc. shall use any of the documents provided in the rules on “Identification documents in force”.

4.1.2. Legal persons.

The requirement to present the contract or corporate bylaws shall be considered fulfilled with the copy of the duly registered constitutive instrument of the client legal person that the financial entity obtains –electronically or digitally– directly from the Public Registry of the corresponding jurisdiction.

4.2. Tax status.

Financial entities must obtain electronically and directly from the website of the Federal Administration of Public Revenue (AFIP) the proof of Unique Tax Identification Key (CUIT), Unique Labor Identification Code (CUIL) or Identification Key (CDI), as applicable, of the legal or natural persons who are holders or to whose order an account is registered, legal representatives, etc.

4.3. Recommendations for the use of automated teller machines.

4.3.1. Financial entities that provide magnetic cards to be used in carrying out operations with automated teller machines must alert and recommend to users the precautions they should take to ensure their correct use.

Notification of these recommendations must be made at the time of opening the account that involves the delivery of a card to be used in automated teller machines, without prejudice to the advisability of periodically making subsequent reminders.

4.3.2. The following are the recommendations and precautions that, at a minimum, must be communicated to users:

4.3.2.1. Request from the bank's staff all the information they deem necessary regarding the use of ATMs when first accessing the service or in the event of any doubt that may arise subsequently.

4.3.2.2. Change the identification or access code or personal key or password ("password", "PIN") assigned by the entity, for one selected by the user, which must not be their personal address or date of birth or any other number that can be easily obtained from documents kept in the same place as their card.

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4.3.2.3. Do not disclose the personal key number or write it on the magnetic card provided or on a piece of paper kept with it, since such code is the key to access the system and therefore to your accounts.

4.3.2.4. Do not enter the personal key in the presence of other people, even if they intend to help you, nor provide the magnetic card to third parties, since it is for personal use.

4.3.2.5. Keep the magnetic card in a safe place and periodically verify its existence.

4.3.2.6. Do not use ATMs when there are messages or abnormal operating situations.

4.3.2.7. When making a deposit operation, ensure to insert the envelope containing the cash or checks together with the first receipt issued by the ATM during the process of that transaction, into the specific slot for that function, and withdraw the receipt that the machine provides at the end of the operation, which will serve for any eventual subsequent claim.

4.3.2.8. Do not forget to withdraw the magnetic card at the end of the operations.

4.3.2.9. If the ATM retains your card or does not issue the corresponding receipt, immediately report this situation to the bank with which you operate and to the bank administering the ATM.

4.3.2.10. In case of loss or theft of your card, immediately report this situation to the bank that issued it.

4.3.2.11. In case of withdrawals where there are differences between the receipt issued by the ATM and the amount actually withdrawn, report this circumstance to the bank where the operation was made and to the system administrator, in order to solve the problem.

4.4. Interest rates.

4.4.1. Forms of agreement.

Interest rates shall be freely agreed between financial entities and clients, in accordance with the rules governing each type of operation.

4.4.2. Basis and methods of settlement.

They shall be settled on the principal amounts imposed from the date of receipt of the funds until the day before maturity or withdrawal or the closing day of the calculation period, as the case may be, and shall be capitalized or credited in arrears, in accordance with the agreed conditions.

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4.4.3. Fixed divisor. 365 days.

4.4.4. Expression. Interest rates must be expressed homogeneously and transparently within the financial market so that the investing public has comparable elements for their evaluation.

4.4.5. Disclosure in documents. In all operations, whatever their instrument, it is appropriate that in contracts, receipts, or other documents of relationship with clients, where rates or interest amounts are specified, express record be made of the following aspects.

4.4.5.1. Contractually agreed annual interest rate, in percent with two decimals.

4.4.5.2. Effective annual interest rate equivalent to the calculation of interest in arrears, in percent with two decimals.

4.4.5.3. Fixed or variable nature of the interest rate, with indication in the latter case of the parameters to be used for its determination and frequency of change.

4.4.6. Calculation of the effective annual interest rate. In operations in which, according to the contract, interest is calculated in arrears for periodic or full settlements and determined proportionally from an annual rate, the following formula shall be used:

i = {[(1 + i s x m/df x 100) df/m
]-1} x 100

where i: effective annual interest rate, equivalent to the calculation of interest in arrears on balances, in percent, with two decimals.

i s : annual interest rate contractually applied, in percent.

m: number of days corresponding to each of the subperiods of interest settlement when charged periodically, or of the operation when charged in a single instance. When such subperiods are in fixed days for monthly, bimonthly, etc., periods, they are considered for these purposes as 30 days, 60 days, etc., respectively.

df: 365.

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4.4.7. Advertising.

In advertisements or publications made through any graphic medium (newspapers, magazines, billboards on public roads, etc.), of the different investment alternatives offered, entities must display in a legible and prominent manner the following information:

i) Nominal annual interest rate.

ii) Effective annual interest rate.

4.5. Return of deposits.

Special accounts, by virtue of the powers conferred by article 1391 of the Civil and Commercial Code of the Nation, are subject to the following conditions, to which interested parties are bound without right to any claim.

4.5.1. Accounts to reciprocal or indistinct order.

The entity shall deliver the deposit in whole or in part to any of the holders, even in cases of death or subsequent incapacity of the others, provided there is no contrary judicial order.

4.5.2. Accounts to joint or collective order.

The entity shall deliver the deposit only upon receipt signed by all holders and, in case of death or incapacity of some of them, a judicial order shall be required to dispose of the deposit.

4.5.3. Accounts in the name of one or more persons and to the order of another.

4.5.3.1. The entities shall deliver, in all cases, the deposit to the person to whose order the account is held, except as provided in point 4.5.3.2.

4.5.3.2. If the death or incapacity of the person to whose order the account is held should occur, the deposit shall be delivered to its holder or to the person to whom the administration of their assets corresponds in accordance with the provisions of the Civil and Commercial Code of the Nation. If the death of the account holder occurs, the deposited funds shall remain at the disposal of those who are their successors.

4.6. Frozen balances.

4.6.1. Transfer.

As a general rule, funds held in deposit accounts shall be transferred to “Frozen balances” at the time of closing of the accounts.

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4.6.2. Notice to holders.

The application of commissions on frozen balances shall be admitted only to the extent that the entities previously communicate it to the holders and it does not involve amounts derived from an employment relationship and/or social security benefits, making reference to their amount –which may not exceed, per calendar month, the value of the postal item “certified letter plus” (basic service of up to 150 grs.) of the Official Mail of the Argentine Republic S.A.– and to the effective date which may not be less than 60 consecutive days from the communication.

In the case of closing of the account by decision of the holder, the entity shall not observe the minimum term indicated above.

The communications shall be sent by mail through the aforementioned certified postal item.

4.7. Discriminatory acts.

The entities shall adopt the necessary measures in order to prevent discriminatory acts from occurring with respect to their clientele, for which they shall observe the provisions of the rules on “Protection of users of financial services”.

4.8. Closing of non-operational accounts.

The account may be closed in the event that no movements have been recorded –deposits or withdrawals made by the holder(s)– or no balance is recorded, in both cases for 730 consecutive days.

Only the collection of commissions, for any concept, shall be admitted up to the amount of the account balance, and under no circumstances may debtor balances derived from such situation be accrued or generated.

The closing of the account shall be communicated in advance to its holders by note sent by certified postal item or, as the case may be, by means of the summary or statement corresponding to this product or to other products that the client has in the entity, taking into account for this purpose the provisions of the rules on “Communication by electronic means for the care of the environment”.

In the notice to be sent, a term of no less than 30 consecutive days shall be granted for the client to choose to maintain the account, before proceeding to its closure.

These provisions shall be applicable to the operations contemplated in this regulation, except that they have a specific treatment for proceeding to their closure or their opening has been ordered by the Justice.

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4.9. Procedures manual.

Financial entities shall specify in a procedures manual, which must be available to the clientele, the conditions they will observe for the opening, operation and closing of savings bank accounts and the special current account for legal persons, which must be based on objective criteria, and may not establish preferential guidelines for related persons or companies, in which aspect the provisions of point 2.2. of the rules on “Credit risk splitting” shall be taken into account.

The procedures corresponding to situations of operational discontinuity in which due customer diligence could not have been applied shall be detailed, in accordance with the requirements of point 1.1.1. of the rules on “Prevention of money laundering, financing of terrorism and other illicit activities”.

Said manual shall be approved by the Board of Directors or equivalent authority, after review by the entity's Audit Committee, a circumstance that must be recorded in the respective minutes. This procedure shall be observed in the event of modifications and/or adjustments to the manual.

4.10. Transfer service. Charges and/or commissions.

Financial entities shall adjust their scheme for charging these concepts to the provisions set forth below.

4.10.1. Transfers ordered or received by clients that have the status of users of financial services under the terms of point 1.1.1. of the rules on “Protection of users of financial services” shall not be subject to charges and/or commissions.

For clients that do not have that status, transfers ordered or received by electronic means –e.g. automated teller machine, Internet banking (“home banking”) and self-service terminals– shall not be subject to charges and/or commissions up to the amount of $ 250,000 –daily accumulated–. This, without prejudice to the additional services to facilitate the mass loading of said transactions in the systems offered by financial entities to clients (and as long as they are not charged for amounts related to the transferred amounts) and to the concepts that must be passed on to clients for taxes, withholdings, etc., according to the applicable legal rules.

In the case of transfers made in United States dollars or euros, for the purposes of the application of this point, the buyer exchange rate of the Banco de la Nación Argentina corresponding to the closing date of operations of the second immediate preceding business day shall be used. The eventual commission shall be paid, when applicable, in pesos, using for that purpose the aforementioned exchange rate, debiting the demand account in that currency that the holder has at the entity. When the holder does not have a demand account in pesos, or its balance is insufficient, the commission shall be paid in the same currency as the transfer, debiting the relevant account.

No commission and/or additional charge shall apply on the part of the financial entity for any other concept –administrative, operational or of any other

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nature–, without prejudice to the fact that the commissions charged between entities and to customers for geographic coverage may remain in force –at the values in force as of 23.9.10–, in those cases where so provided.

4.10.2. Transfers destined for demand accounts for judicial use.

Transfers of funds from or destined for these accounts shall be without charges or commissions for the originator.

With respect to transfers destined for these accounts, the financial entity receiving the transfer shall verify that the account receiving the funds corresponds to a demand account for judicial use. If such correspondence is not verified, it shall proceed to return the transaction, in accordance with the provisions of the applicable regulations on that matter.

4.11. Over-the-counter operations.

Users of financial services who are holders of the accounts provided for in these rules shall have the right to carry out over-the-counter operations, without restrictions as to type of operation –subject to those that may exist for operational reasons– or minimum amount.

No commissions may be applied to over-the-counter operations carried out by users of financial services who are natural persons, with the scope provided in point 2.3.2.2. of the rules on “Protection of users of financial services”.

4.12. Denomination of demand deposit accounts.

The denomination of the products or services in the applications, contracts, Internet banking system (“home banking”) and account statements shall conform to that provided in the BCRA rules (“peso savings account”, “dollar savings account”, “bank current account”, “salary/social security account”, etc.), without prejudice to the fact that the commercial package that they may eventually form may additionally be referred to.

4.13. Special customer identification procedures in matters of international tax cooperation.

Based on the Standard of the Organisation for Economic Co-operation and Development (OECD) for Automatic Exchange of Information in Tax Matters and the provisions of the United States of America’s Foreign Account Tax Compliance Act (FATCA), financial entities shall adopt the necessary measures to identify the account holders covered by said standard and provisions.

For that purpose they shall proceed to:

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4.13.1. Include, in the files of customers who are covered and are natural persons (also encompassing those who control non-financial entities of the country that are included), in addition to the data on nationality and place and date of birth, the information on the country of tax residence and the address and tax identification number with the pertinent supporting documentation.

In the case of legal persons and other covered customers, the respective information shall comprise the country of tax residence and the address and tax identification number in that country.

4.13.2. Comply with the confidentiality safeguards referred to in art. 39 of the Law on Financial Entities and art. 5, ap. 2, inc. e) of the Law on Personal Data Protection.

The information on covered customers shall be submitted to the Federal Administration of Public Revenue, in accordance with the regime that that Administration establishes.

The scopes and definitions referring to covered subjects, accounts and data to be supplied, as well as the due diligence procedures, shall be understood in accordance with the terms of the document “Standard for Automatic Exchange of Financial Account Information-Common Reporting Standard” approved by the OECD.

4.14. Operations at automatic teller machines in the country not operated by financial entities.

Financial entities that offer demand accounts shall allow their customers to carry out operations through automatic teller machines installed in the country and operated by non-financial companies.

Those devices shall previously inform the customer of the operations allowed and the price of their use –clarifying that that price will be the same regardless of the quantity and type of transactions to be carried out and stating the legend “This operation at a financial entity might have no cost”– and allow the customer to withdraw from their use at no cost. The financial entity issuing the debit card may not charge its customers any type of additional commission to the one informed by these devices.

Financial entities may not have any type of participation or linkage –in the latter case, in accordance with the provisions of point 2.2. of the rules on “Credit risk splitting”– with the non-financial companies that operate and/or administer these automatic teller machines.

4.15. Deposit accounts for guarantees of futures and options operations.

When these accounts are used by markets or capital clearing houses exclusively for the deposit of third-party guarantees, their denomination shall bear the addition “Third-party guarantee”.

4.16. Opening of accounts in non-face-to-face form.

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SAVINGS DEPOSITS, SALARY ACCOUNT AND SPECIAL ACCOUNTS B.C.R.A.
Section 4. General provisions.

4.16.1. When financial institutions allow the non-face-to-face opening of accounts through electronic and/or communication means, they must comply with the following requirements:

4.16.1.1. Ensure that such means allow them to fully comply with the regulations on prevention of money laundering and financing of terrorism –especially regarding the identification and knowledge of the customer–, as well as with the remaining applicable provisions.

4.16.1.2. The procedures, technologies and controls used for the non-face-to-face opening of the aforementioned accounts must ensure compliance with the provisions on electronic channels and those related to the preservation, integrity, authenticity and confidentiality of the information and documents used, in order to protect them against alteration or destruction, as well as against improper access or use.

4.16.1.3. In the case of accounts in the name of legal entities, the following must also be complied with:

i. Financial institutions must adopt procedures, technologies and controls that allow verifying the identity of the natural person requesting the opening as legal representative or attorney-in-fact, the authenticity of the instruments accrediting the invoked representation and the identifying data of the legal entity, which may include requesting information from public and/or private databases for comparison with the data received from the applicant.

ii. The legal entity must present at the branch where the account is domiciled, within 60 calendar days of the opening request, a certified copy of the bylaws or social contract with evidence of its registration by the competent corporate control authority in the Public Registry of the corresponding jurisdiction, except when the entity obtains it electronically or digitally in accordance with the provisions of point 4.1.2.

4.16.2. When requested by another financial institution authorized to operate in the country for the purpose of processing an account opening request under the conditions of point 4.16.1., financial institutions may –in accordance with the provisions of article 39 subsection d) of Law 21.526– provide information regarding their customers that allows:

i. establishing their identity and personal data, in the case of natural persons;

ii. establishing the attributes of legal personality and profile as well as the identity and personal data of the legal representatives or attorneys-in-fact, in the case of legal entities.

For such purposes, the entities must previously obtain the consent of the respective customer and comply with the requirements set forth in Law 25.326 on Personal Data Protection (and amendments).

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CENTRAL BANK OF THE ARGENTINE REPUBLIC

SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS

CONSOLIDATED TEXT	SOURCE RULE						OBSERVATIONS
Sec.	Point	Para.	Com.	Annex	Chap.	Sec.	Point	Para.
1.		4°	“A” 3042
	1.10.3.		“A” 2468			1.	1°		S/Com. “A” 5461, 5482 and 6462.
	1.10.4.	1°	“A” 2468			1.	4°		S/Com. “A” 5482.
		2°	“A” 2468			1.	5°		S/Com. “A” 5482.
	1.11.	1°	“A” 2621			3.
		2°	“A” 2508	Sole			3°
	1.12.	1°	“A” 3042						S/Com. “A” 4809, 4971 (item 16.) and 5022.
		2°	“A” 3042						S/Com. “A” 3323, 4809, 5000 and 5022.
		Last	“A” 3042
	1.12.1.		“A” 2621			2.
	1.12.2.		“A” 3014		3.	3.7.1.6.			S/Com. “A” 4022 and 5161.
	1.13.1.		“A” 3042						S/Com. “A” 6042.
	1.13.2.		“A” 3042						S/Com. “A” 4809 and 6462.
	1.13.2.1.		“A” 1199		I	5.2.2.	1°2°
			“A” 1653		I	2.1.3.4.
	1.13.2.2.		“A” 1199		I	5.2.2.	3°		S/Com. “A” 4809 and 5482.
	1.14.		“A” 1199		I	6.3.			S/Com. “A” 2807 (item 6.) and 6462.
			“A” 1820	I		2.6.
	1.15.		“A” 2530
	1.16.		“A” 1653		I	2.1.3.5.
2.	2.1.		“A” 2590		I	4.4.1.			S/Com. “A” 5091, 5231 and 6042.
	2.2.	Last	“A” 5091						S/Com. “A” 5231 and 5284.
		1°	“A” 2590		I	4.4.2.			S/Com. "A" 5091 and 5231.
	2.2.1.	2°	"A" 6042
		3°	"A" 2956						S/Com. "A" 5091 and 5231.
	2.2.2.		"A" 5231						S/Com. "A" 5284.
	2.3.		"A" 2590		I	4.4.3.			S/Com. "A" 5091 and 5231.
			"A" 2596
	2.3.1.		"A" 2590						S/Com. "A" 4047, 5091 and 5511.
	2.3.2.		"A" 2590						S/Com. "A" 5091, 5231 and 5284.
	2.3.2.1.		"A" 2590						S/Com. "A" 5091, 5231 and 6364.
	2.3.2.2.		"A" 2590						S/Com. "A" 5091, 5231, 5284, 5482 and 6462.
	2.3.2.3.		"A" 2590						S/Com. "A" 5091, 5231 and 5960.
	2.3.2.4.		"A" 2590						S/Com. "A" 5091 and 5231.
	2.3.2.5.		"A" 5231
	2.4.		"A" 2590		I	4.4.4.			S/Com. "A" 5091, 5231, 5284 and 5461.
	2.5.		"A" 2590		I	4.4.5.			S/Com. "A" 5091, 5161, 5231, 5416, 5459 and 5804.
	2.6.		"A" 2590		I	4.4.6.			S/Com. "A" 4809, 5091, 5231, 5284 and 5927.

SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS

CENTRAL BANK OF THE ARGENTINE REPUBLIC


CONSOLIDATED TEXT			SOURCE RULE					OBSERVATIONS
Sec.	Point	Para.	Comm.	Annex	Ch.	Sec.	Point	Para.
2.	2.7.		"A" 2590		I		4.4.7.	S/Comm. "A" 5091.
	2.8.		"A" 2590		I		4.4.8.	S/Comm. "A" 5091, 5231 and 6042.
	2.9.		"A" 2956		I		4.4.9.	S/Comm. "A" 5091, 5231, 5284 and 6042.
			"A" 2590
	2.10.		"A" 5231					S/Comm. "A" 5284.
	2.11.		"A" 2590		I		4.4.10.	S/Comm. "A" 5091, 5231 and 5284.
	2.12.		"A" 2590		I		4.4.11.	S/Comm. "A" 5091 and 5231.
	2.13.	1°	"A" 2590		I		4.4.12.	S/Comm. "A" 5091 and 5231.
		2°	"A" 5231
3.	3.1.1.		"A" 1199		I		4.2.1.	S/Comm. "A" 4532 and "B" 9516.
			"B" 6360
	3.1.2.	1°	"A" 1199		I		4.2.2.	S/Comm. "A" 3042, 6341 and "B" 9516.
		2°	"A" 3042
	3.1.3.		“A” 1199		I		4.2.
	3.1.4.		“A” 1199		I		4.2.3.	S/Com. “A” 1877 and 6341.
	3.1.5.1.		“A” 1199		I		4.2.4.1.
	3.1.5.2.		“A” 1199		I		4.2.4.2.	S/Com. “A” 6341.
	3.1.5.3.		“A” 1199		I		4.2.4.3.	S/Com. “A” 6341.
	3.1.5.4.		“A” 6341
	3.1.5.5.		“A” 6341
	3.1.6.		“A” 1199		I		4.2.5.1.	S/Com. “A” 6341 and 6415. Includes interpretive clarification.
							4.2.5.2.
							4.2.5.3.
							4.2.5.4.
	3.1.7.		“A” 1199		I		4.2.6.	S/Com. “B” 9516.
	3.1.7.1.		“A” 1199		I		4.2.6.1.	S/Com. “B” 9516.
	3.1.7.2.		“B” 9516
	3.1.7.3.		“A” 1199		I		4.2.6.2.	S/Com. “B” 9516.
	3.1.7.4.		“A” 1199		I		4.2.6.4.	S/Com. “B” 9516.
	3.1.7.5.		“A” 1199		I		4.2.6.3.	S/Com. “B” 9516.
	3.1.7.6.		“A” 1199		I		4.2.6.5.	S/Com. “B” 9516.
	3.1.8.1.		“A” 1199		I		4.2.7.1.
	3.1.8.2.		“A” 1199		I		4.2.7.2.
	3.1.9.1.		“A” 1199		I		4.2.8.1.
	3.1.9.2.		“A” 1199		I		4.2.8.2.
	3.1.9.3.		“A” 1199		I		4.2.8.3.	S/Com. “A” 6341.
	3.1.9.4.		“A” 3042					S/Com. “A” 6462.
	3.1.9.5.		“A” 6341
	3.1.10.		“A” 1199		I		4.2.9.	S/Com. “B” 9516.
	3.2.1.		“A” 1247				4.3.1.
	3.2.2.		“A” 1247				4.3.2.
	3.2.3.		“A” 1247				4.3.3.
	3.2.4.1.		“A” 1247				4.3.4.1.	S/Com. “A” 3042.
	3.2.4.2.		“A” 1247				4.3.4.2.
	3.2.5.		“A” 1247				4.3.5.
	3.2.6.		“A” 1247				4.3.6.
	3.2.7.		“A” 1247				4.3.7.
	3.2.8.		“A” 1247				4.3.8.

SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS

CENTRAL BANK OF THE ARGENTINE REPUBLIC

CONSOLIDATED TEXT				ORIGINATING RULE					OBSERVATIONS
Sec.	Point	Para.	Comm.	Annex	Chap.	Sec.	Point	Para.
3.	3.3.		“A” 1199		I	4.1.
	3.4.		“A” 3250			1.
	3.4.1.		“A” 3250			1.
	3.4.2.		“A” 3250			1.			S/Comm. “A” 6273 and 6381.
	3.4.3.		“A” 3250			1.
	3.4.4.		“A” 3250			1.
	3.4.5.		“A” 3250			1.			S/Comm. “A” 4936, 4971 (point 18.) and 5000.
	3.4.6.		“A” 3250			1.
	3.4.7.		“A” 3250			1.			S/Comm. “A” 5068 and 6148.
	3.4.8.		“A” 3250			1.			S/Comm. “A” 5461 and 5482.
	3.4.9.		“A” 3250			1.
	3.4.10.		“A” 3250			1.			S/Com. “A” 3014 (pto. 3.7.1.), 3323 and 4809.
	3.4.11.		“A” 3250			1.
	3.4.12.		“A” 3250			1.			S/Com. “A” 6462.
	3.4.13.		“A” 3250			1.
	3.4.14.		“A” 3250			1.
	3.5.		“A” 5007						S/Com. “A” 5161, 5204, 5231, 5284, 5450 and 5461.
	3.5.1.		“A” 5007						S/Com. “A” 5231, 5284 and 5450.
	3.5.2.		“A” 5007						S/Com. “A” 5231 and 5450.
	3.5.3.		“A” 5007						S/Com. “A” 5231, 5450 and 5960.
	3.5.4.		“A” 5007						S/Com. “A” 5231, 5450, 5459, 5482, 5960 and 6462.
	3.5.5.		“A” 5007
	3.5.6.		“A” 5007						S/ Com. “A” 5804.
	3.5.7.		“A” 5007						S/ Com. “A” 5804.
	3.5.8.		“A” 5007
	3.5.9.		“A” 5007
	3.5.10.		“A” 5960			2.
	3.6.		“A” 5147
	3.6.1.		“A” 5147
	3.6.2.		“A” 5147
	3.6.3.		“A” 5147						S/Com. “A” 5212.
	3.6.4.		“A” 5147						S/Com. “A” 5212 and 5461.
	3.6.5.		“A” 5147
	3.6.6.		“A” 5147
	3.6.7.		“A” 5147
	3.6.8.		“A” 5147
	3.6.9.		“A” 5147
	3.6.10.		“A” 5147
	3.7.		“A” 6103
	3.7.1.		“A” 6103
	3.7.2.		“A” 6103
	3.7.3.		“A” 6103

SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS


CONSOLIDATED TEXT			SOURCE RULE						OBSERVATIONS
Sec.	Point	Para.	Comm.	Annex	Chap.	Sec.	Point	Para.
3.	3.7.4.		“A” 6103
	3.7.5.		“A” 6103
	3.7.6.		“A” 6103
	3.7.7.		“A” 6103
	3.7.8.		“A” 6103
	3.8.1.		“A” 6165
	3.8.2.		“A” 6165
	3.8.3.		“A” 6165						S/Comm. “A” 6273.
	3.8.4.		“A” 6165
	3.8.5.		“A” 6165
	3.8.6.		“A” 6165
	3.8.7.		“A” 6165
	3.8.8.		“A” 6165
	3.8.9.		“A” 6165
	3.8.10.		“A” 6165
	3.8.11.		“A” 6165
	3.8.12.		“A” 6165
	3.8.13.		“A” 6165
	3.9.1.		“A” 6265
	3.9.2.		“A” 6265
	3.9.3.		“A” 6265
	3.9.4.		“A” 6265
	3.9.5.		“A” 6265
	3.9.6.		“A” 6265
	3.9.7.		“A” 6265
	3.9.8.		“A” 6265
	3.9.9.		“A” 6265
	3.9.10.		“A” 6265
4.	4.1.		“A” 3042						S/ Com. “A” 5728 and 6273.
	4.2.		“A” 1891						S/Com. “A” 1922, 3323 and 4875 and 6273.
	4.3.1.	1°	“A” 2530					1°
		2°	“A” 2530					3° and 4°
	4.3.2.		“A” 2530					2°
	4.4.1.		“A” 1199	I		5.3.1.
	4.4.2.		“A” 1199	I		5.3.2.
	4.4.3.		“A” 1199	I		5.3.3.
	4.4.4.		“A” 3042
	4.4.5.		“A” 1199	I		5.3.4.
	4.4.6.		“A” 1199	I		5.3.4.1. and 5.3.4.3.
	4.4.7.		“A” 627			1.			S/Com. “A” 6419.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

SAVINGS DEPOSITS, PAYROLL ACCOUNT AND SPECIAL ACCOUNTS

CONSOLIDATED TEXT			ORIGINATING RULE					OBSERVATIONS
Sec.	Point	Para.	Com.	Annex	Chap.	Sec.	Point	Para.
4.	4.5.		“A” 1199		I		5.1.
	4.5.1.		“A” 1199		I		5.1.1.
	4.5.3.		“A” 1199		I		5.1.3.	S/Com. “A” 5990.
	4.6.1.		“A” 1199		I		5.2.1.	S/Com. “A” 3042.
	4.6.2.		“A” 1199		I		5.2.2.	S/Com. “A” 3042, 4809, 5482 and 6042.
	4.7.		“B” 6572					S/Com. “A” 5388.
	4.8.		“A” 4809				6.	S/Com. “A” 5986 and 6249.
	4.9.		“A” 4809				7.	S/Com. “A” 5164, 5520 and 5612.
	4.10.	1°	“A” 5212
	4.10.1.		“A” 5127				3.	S/Com. “B” 9961, “A” 5164, 5212, 5473, 5718, 5778 and 5927.
	4.10.2.		“A” 5212					S/Com. “A” 5718.
	4.10.3.		“A” 5137					S/Com. “A” 5164 and 5990.
	4.11.		“A” 5482					S/Com. “A” 5928.
	4.12.		“A” 5482
	4.13.		“A” 5588
	4.13.1.		“A” 5588
	4.13.2.		“A” 5588
	4.14.		“A” 5928				10.	S/Com. “A” 6236.
	4.15.		“B” 11269
	4.16.		“A” 6059					S/Com. “A” 6273.
5.	5.1.		“A” 1199		I		4.2.6.	S/Com. “B” 9516 and 10025, “A” 5410 and 5565.
	5.2.		“B” 10567
	5.3.		“A” 5928				6.
	5.4.		“A” 5531					S/Com. “A” 5547 and 6305.
	5.5.		“A” 6022				1.
	5.6.		“A” 6022				2.
	5.7.		“A” 6022				3.
	5.8.		“A” 6022				4.
	5.9.		"A" 6022				5.
	5.10.		"A" 6341

B.C.R.A.
ORDERED TEXT OF THE RULES ON
"TIME DEPOSITS AND INVESTMENTS"

Index -

2.3. With early cancellation option.

2.4. With renewal option for a determined term.

2.5. Time deposit with variable remuneration.

2.6. Savings account in Acquisition Value Units adjustable by "CER" - Law 25.827 ("UVA").

2.7. Savings account in Housing Units adjustable by "ICC" - Law 27.271 ("UVI").

Section 3. General provisions.

3.1. Identification.

3.2. Tax situation.

3.3. Qualified investors.

3.4. Recommendations for the use of automated teller machines.

3.5. Interest rates.

3.6. Return of deposits.

3.7. Frozen balances.

3.8. Discriminatory acts.

3.9. Special procedures for customer identification in matters of international tax cooperation.

3.10. Deposits in the name of minors from funds received gratuitously.

4.1. Participating entities.

4.2. Holders.

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Effective date:
01/03/2018
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TIME DEPOSITS AND INVESTMENTS B.C.R.A.
Section 3. General provisions.

3.3.6. Legal persons constituted abroad and natural persons with actual domicile outside the country.

3.4. Recommendations for the use of automated teller machines.

3.4.1. Financial entities that provide magnetic cards to be used in transactions with automated teller machines must alert and recommend to users the precautions they should take to ensure their correct use.

3.4.2. The following are the recommendations and precautions that, at a minimum, must be communicated to users:

3.4.2.1. Request from bank personnel all information they deem necessary about the use of automated teller machines when first accessing the service or before any doubt that may arise subsequently.

3.4.2.2. Change the identification or access code or personal key or password ("password", "PIN") assigned by the entity, for one that the user selects, which must not be their personal address or date of birth or another number that can be easily obtained from documents kept in the same place as their card.

3.4.2.3. Do not disclose the personal key number or write it on the magnetic card provided or on a paper kept with it, since said code is the key to enter the system and therefore to their accounts.

3.4.2.4. Do not enter the personal key in the presence of other people, even if they pretend to help, nor provide the magnetic card to third parties, since it is for personal use.

3.4.2.5. Keep the magnetic card in a safe place and periodically verify its existence.

3.4.2.6. Do not use automated teller machines when abnormal messages or operating situations are found.

3.4.2.7. When making a deposit transaction, ensure to insert the envelope containing the cash or checks together with the first receipt issued by the ATM during the process of that transaction, in the slot specific for that function, and withdraw the receipt that the machine provides at the end of the transaction, which will serve for any subsequent claim.

3.4.2.8. Do not forget to withdraw the magnetic card at the end of the transactions.

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TIME DEPOSITS AND INVESTMENTS B.C.R.A.
Section 3. General provisions.

3.4.2.9. If the ATM retains your card or does not issue the corresponding receipt, immediately report that situation to the bank with which you operate and to the bank administering the automated teller machine.

3.4.2.10. In case of loss or theft of your card, immediately report this situation to the bank that issued it.

3.4.2.11. In case of withdrawals when there are differences between the receipt issued by the ATM and the amount actually withdrawn, report that circumstance to the bank where the transaction was made and to the system administrator, in order to solve the problem.

3.5. Interest rates.

3.5.1. Forms of agreement.

Interest rates shall be freely agreed between financial entities and customers, in accordance with the rules governing each type of transaction.

3.5.2. Basis and methods of settlement.

They shall be settled on the capital imposed from the date of receipt of the funds until the day before the due date or withdrawal or the closing day of the calculation period, as the case may be, and shall be capitalized or paid in arrears, in accordance with the agreed conditions.

3.5.3. Fixed divisor.

365 days.

3.5.4. Expression.

Interest rates must be expressed in a homogeneous and transparent manner within the financial market so that the investing public has comparable elements for their evaluation.

3.5.5. Disclosure in documents.

In all transactions, whatever their instrument, contracts, receipts, or other documents of relationship with clients, where rates or interest amounts are specified, must expressly state the following aspects:

3.5.5.1. Contractually agreed annual interest rate, in percent with two decimals.

3.5.5.2. Effective annual interest rate equivalent to the calculation of interest in arrears, in percent with two decimals.

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Effective date:
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TIME DEPOSITS AND INVESTMENTS B.C.R.A.
Section 3. General provisions.

3.5.5.3. Fixed or variable nature of the interest rate, indicating in the latter case the parameters to be used for its determination and the frequency of change.

3.5.6. Calculation of the effective annual interest rate.

In transactions in which, according to the contract, interest is calculated in arrears for periodic or full settlements and determined proportionally from an annual rate, the following formula shall be used:

i = {[(1 + is x m/df x 100) df/m ] -1} x100

In the above expression:

i: effective annual interest rate, equivalent to the calculation of interest in arrears on balances, in percent, with two decimals.

is : annual interest rate contractually applied, in percent.

m: number of days corresponding to each of the sub-periods of interest settlement when they are charged periodically, or of the transaction when they are charged in a single instance. When such sub-periods are in fixed days for monthly, bimonthly, etc. periods, they shall be considered for these purposes as 30 days, 60 days, etc., respectively.

df: 365.

3.5.7. Advertising.

i) Nominal annual interest rate.

ii) Effective annual interest rate.

3.6. Return of deposits.

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Effective date:
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TIME DEPOSITS AND INVESTMENTS B.C.R.A.
Section 3. General provisions.

3.6.1. Accounts to reciprocal or indistinct order.

The entity shall deliver the deposit in whole or in part to any of the holders, even in cases of death or subsequent incapacity of the others, provided that there is no contrary court order.

3.6.2. Accounts to joint or collective order.

The entity shall deliver the deposit only upon a receipt signed by all holders and, in the event of death or incapacity of some of them, a court order shall be required to dispose of the deposit.

3.6.3. Accounts in the name of one or more persons and to the order of another.

3.6.3.1. Entities shall deliver, in all cases, the deposit to the person to whose order the account is held, except as provided in point 3.6.3.2.

3.6.3.2. If the death or incapacity of the person to whose order the account is held occurs, the deposit shall be delivered to its holder or to the person to whom the administration of their assets corresponds in accordance with the provisions of the Civil and Commercial Code of the Nation. If the death of the account holder occurs, the deposited funds shall remain at the disposal of those who are their successors.

3.7. Frozen balances.

3.7.1. Transfer.

As a general rule, funds held in deposit and investment accounts shall be transferred to “Frozen Balances” upon maturity of the deposits.

3.7.2. Notice to holders.

The application of commissions on frozen balances shall be allowed only to the extent that entities previously notify the holders, referring to their amount – which may not exceed, per calendar month, the value of the “certified letter plus” (basic service up to 150 grs.) of the Official Mail of the Argentine Republic S.A. – and to the effective date which may not be less than 60 consecutive days from the notification.

Notifications shall be sent by mail through the aforementioned certified postal item.

3.8. Discriminatory acts.

Entities must adopt the necessary measures to prevent discriminatory acts against their clientele, for which they must observe the provisions of the rules on “Protection of users of financial services”.

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Effective date:
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TIME DEPOSITS AND INVESTMENTS B.C.R.A.
Section 3. General provisions.

3.9. Special procedures for customer identification in matters of international tax cooperation.

In accordance with the Standard of the Organisation for Economic Co-operation and Development (OECD) for Automatic Exchange of Information in Tax Matters and the provisions of the United States of America Foreign Account Tax Compliance Act (FATCA), financial entities must adopt the necessary measures to identify account holders covered by said standard and provisions.

To this end, they shall proceed to:

3.9.1. Include, in the files of clients who are covered and are natural persons (also encompassing those who control non-financial entities of the country included), in addition to data on nationality and place and date of birth, information on the country of tax residence and the address and tax identification number with the pertinent supporting documentation.

In the case of legal persons and other covered clients, the respective information shall comprise the country of tax residence and the address and tax identification number in that country.

3.9.2. Comply with the confidentiality safeguards referred to in art. 39 of the Law on Financial Entities and art. 5, para. 2, subpara. e) of the Law on Personal Data Protection.

The information on covered clients must be submitted to the Federal Administration of Public Revenue, in accordance with the regime that said Administration establishes.

3.10. Deposits in the name of minors from funds received free of charge.

Financial entities may receive deposits in a “Savings Account in Units of Purchasing Value updatable by “CER” - Law 25.827 (“UVA”)” and in a “Savings Account in Housing Units updatable by “ICC” - Law 27.271 (“UVI”)” in the name of minors, subject to compliance with the following conditions:

3.10.1. The deposits must be non-transferable and constituted in the name of a single minor by their legal representative with funds that the minor receives free of charge with the consent of the latter.

3.10.2. The legal representative may instruct that the funds credited in the aforementioned “Savings Account in Units of Purchasing Value updatable by “CER” - Law 25.827 (“UVA”)” and “Savings Account in Housing Units updatable by “ICC” - Law 27.271 (“UVI”)” be applied to any of the investment modalities in “UVA” or

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DEPÓSITOS E INVERSIONES A PLAZO B.C.R.A.
Section 3. General provisions.

“UVI”, respectively, provided for in these rules, subject to compliance with the conditions established in point 3.10.

At maturity, the funds shall be credited to the “Savings Account in Units of Purchasing Value updatable by “CER” - Law 25.827 (“UVA”)” or to the “Savings Account in Housing Units updatable by “ICC” - Law 27.271 (“UVI”)”, as applicable, in the name of the same holder, with the minimum term for availability provided in points 2.6.1. or 2.7.1. being applicable in that case.

3.10.3. The funds shall be unavailable – including their updating, remuneration, capitalization, etc. – until the minor reaches the age of majority. Said condition must be expressly accepted by the legal representative of the minor.

3.10.4. Without prejudice to the provisions of point 3.10.3., the transfer of the funds to another financial entity shall be permitted according to the operational instructions to be issued by the Central Bank and subject to compliance with the requirements provided in point 3.10.

3.10.5. These deposits must not come from the employment, profession or industry exercised by the minor able to contract or to freely dispose of the proceeds of their lawful work.

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DEPÓSITOS E INVERSIONES A PLAZO B.C.R.A.
Section 4. Special provisions linked to the inflow of funds from abroad - Decree 616/05.

4.1. Intervening entities.

Banks and financial companies.

4.2. Titulares.

Natural and legal persons in whose name the foreign exchange transaction covered by the provisions of article 3 of Decree No. 616/05 and its regulations is carried out.

4.3. Moneda.

Dólar estadounidense.

4.4. Plazo.

The one provided for in Decree No. 616/05, its amendments and regulations.

4.5. Importe.

The equivalent to the percentage of the deposit provided for in article 4, subsection c) of Decree No. 616/05, its amendments and regulations, in United States dollars of the total foreign exchange settlement transaction for the concepts detailed in article 3 of the aforementioned decree.

4.6. Retribución.

No remuneration whatsoever may be recognized on these deposits.

4.7. Issuance of certificates of deposits.

The deposits shall be instrumented by means of non-transferable registered certificates which, in addition, shall contain the legend “Special deposit for the deposit of funds from abroad - Decreto 616/05”.

4.8. Restricciones.

Financial institutions may not receive these certificates as collateral for financing operations.

4.9. Otras disposiciones.

As long as they are not expressly contemplated in the preceding points, the provisions established in points 1.3., 1.4., 1.5., 1.6. (except 1.6.2.), 1.7.1., 1.13., 1.17. (except 1.17.1.1.) and 3.6. shall apply –insofar as they correspond–.

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Página 1

DEPÓSITOS E INVERSIONES A PLAZO

CENTRAL BANK OF THE ARGENTINE REPUBLIC

ORDERED TEXT SOURCE NORM
Sec. Point Par. Com. Annex Cap. Sec. Point Par.
OBSERVACIONES
3.
3.3.1. “A” 2252 1.1. S/Com. “A” 4754, 5117
y 5183.
3.3.2. “A” 2252 1.2. S/Com. “A” 5117.
3.3.3. “A” 2252 1.3. S/Com. “A” 5117.
3.3.4. “A” 2252 1.4. S/Com. “A” 2482 (item
3.), 3043, 5034, 5117 and
5841.
3.3.5. “A” 2252 1.5. S/Com. “A” 2482 (item
3.), 3043, 5034 and 5841.
3.3.6. “A” 2252 1.6.
3.4.1. 1° “A” 2530 1°
2° “A” 2530 3° and
4°
3.4.2. “A” 2530 2°
3.5.1. “A” 1199 I 5.3.1.
3.5.2. “A” 1199 I 5.3.2.
3.5.3. “A” 1199 I 5.3.3.
3.5.4. “A” 3043
3.5.5. “A” 1199 I 5.3.4.
3.5.6. “A” 1199 I 5.3.4.1.
3 5.3.4.3. .5.7. “A” 627 1. S/Com. “A” 6419.
3.6. “A” 1199 I 5.1.
3.6.1. “A” 1199 I 5.1.1.
3.6.2. “A” 1199 I 5.1.2.
3.6.3. "A" 1199 I 5.1.3.
3.6.4. “A” 3043
3.6.5. "A" 1199 I 5.3.4.
3.6.6. "A" 1199 I 5.3.4.1.
5.3.4.3.
3.6.7. “A” 627 1.
3.7. “A” 1199 I 5.1.
3.7.1. "A" 1199 I 5.2.1. S/Com. "A" 3043.
3.7.2. "A" 1199 I 5.2.2. S/Com. "A" 3043, 4809
and 5482.
3.8. "B" 6572 S/Com. "A" 5388.
3.9. “A” 5588
3.9.1. “A” 5588
3.9.2. “A” 5588
3.10. "A" 6069 2. S/Com. "A" 6266.
4.1. “A” 4360 1.
4.2. “A” 4360 1.
4.3. “A” 4360 1.
4.4. "A" 4360 1. S/Com. "A" 6305.
4.5. "A" 4360 1. S/Com. "A" 6305.
4.
4.6. “A” 4360 1.

TIME DEPOSITS AND INVESTMENTS

CONSOLIDATED TEXT SOURCE STANDARD
Sec. Item Para. Com. Annex Chap. Sec. Item Para.
OBSERVATIONS
4.7. “A” 4360 1.
4.8. “A” 4360 1.
4.
4.9. “A” 4360 1. S/Com. “A” 4874 and
6462.
5. 5.1. “A” 6022 6.

B.C.R.A.
MINIMUM SECURITY MEASURES IN FINANCIAL INSTITUTIONS
Section 1. Introduction.

1.1. The minimum security measures contained herein are mandatory for the financial institutions covered by the regime of Law 21.526, and the adoption of other precautions they deem necessary, as arising from the security studies they carry out, remains at their exclusive discretion and responsibility, in order to protect persons and valuables, without this requiring authorization from the Central Bank of the Argentine Republic (BCRA).

When, for operational reasons, financial institutions require to store valuables and/or keep them in custody outside their own vaults, they must arrange the pertinent precautions for contracting Valuables Transport Service Providers (PSTV) that, in the vaults they will use for such purposes, fully comply with these standards. This requirement shall be considered met when the financial institutions have a favorable report from the Security Management on compliance with such requirements by the PSTV concerned.

When those vaults do not comply with all of the aforementioned requirements, the financial institutions must inform that department of the security measures that the PSTV concerned still has to comply with, and may use them for a maximum period of up to 12 months from the date of notification to the BCRA.

1.2. When branches do not carry out money movements or hold money, they are exempt from compliance with the minimum security measures required under current regulations, for as long as that situation persists.

1.3. Entities that as of 10.07.17 have offices intended exclusively to carry out the activities of payment of salaries and pension benefits, collection of public services, taxes and fees, or are located in client companies, agencies and temporary offices may continue operating with the security measures they adopted at the time of their authorization, as long as they restrict their operations to those declared to the BCRA.

1.4. For aspects not contemplated and/or that give rise to other interpretations and/or the need to make inquiries, entities must address the BCRA, which will evaluate and resolve accordingly.

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “MINIMUM SECURITY MEASURES IN FINANCIAL INSTITUTIONS”

CONSOLIDATED TEXT SOURCE RULE
Section Point Paragraph Com. Annex Point Paragraph
OBSERVATIONS
1.1.
“A” 2687 According to Com. “A” 2985, 3390, 6218 and 6438.
1.2.
“A” 2687 According to Com. “A” 2985, 3390, 5308, 6272 and 6419.
1.3. “A” 6272
1.
1.4. “A” 2687 According to Com. “A” 2985, 3390, 5308 and
6272.
2.1. “A” 6142 According to “A” 6272 and 6438.
2.2. “A” 2687 According to Com. “A” 2985, 3390, 5120,
5308, 5412, 6142, 6272, 6438 and “B”
6682.
2.3. “A” 2687 According to Com. “A” 2985, 3390, 5175,
5308, 5412 and 6272.
2.4. “A” 2687 According to Com. “A” 2985, 3390, 5175,
5308, 5412, 6272 and 6438.
2.5. “A” 2687 According to Com. “A” 2985, 3390, 5175,
5308, 5412, 6272 and 6438.
2.6. “A” 6272 According to Com. “A” 6438.
2.7. “A” 6272
2.8. “A” 2687 According to Com. “A” 2985, 3390, 4778,
5120, 5175, 5308, 5412, 6272 and 6438.
2.9. “A” 2687 According to Com. “A” 2985, 3390, 5120,
5308, 6272 and 6438.
2.10. “A” 2985 According to Com. “A” 3390, 4778, 5120,
5175, 5308, 5412 and 6272.
2.11. “A” 5175 According to Com. “A” 6272 and 6438.
2.12. “A” 6432
2.13. “A” 2687 According to Com. “A” 2985, 3390 and 6272.
2.
2.14. “A” 2687 According to Com. “A” 2985, 3390 and 6272.
3.
“A” 2687 According to Com. “A” 2985, 3390, 5120, 5175, 5308, 6272, 6432 and 6438.
4.
“A” 2687 According to Com. “A” 2985, 3390, 6241 and 6272.
5.1. “A” 2687 According to Com. “A” 2985, 3390, 5120,
5175, 5308, 5412, 6182, 6219, 6272 and
6438.
5.2. “A” 2687 According to Com. “A” 2985, 3390, 5175,
5308, 6241, 6272 and 6438.
5.3. “A” 2687 According to Com. “A” 2985, 3390 and 6272.
5.4. “A” 6272
5.
“A” 2687 According to Com. “A” 2985, 3390, 5120, 5175, 5308, 5412 and 6272.
6.1. “A” 2687 According to Com. “A” 2985, 3390, 5308,
6. 6272 and 6438.
6.2. “A” 2687 According to Com. “A” 2985 and 3390.

REPRESENTATIVES OF FOREIGN FINANCIAL INSTITUTIONS B.C.R.A.
NOT AUTHORIZED TO OPERATE IN THE COUNTRY
Section 1. Activity.

Without prejudice to the minimum conditions necessary to achieve such functional independence with respect to services essential for the performance of functions (electricity supply, telephony, water, etc.), the means of communication used by the representation may not be shared.

1.6.2. Advertising and publicity.

In matters of advertising, the representative must respect the provisions of point 1.2.2., taking into account the prohibition of point 1.5.1.

At the foot of business papers and printed advertising – with a letter height of no less than 2 (two) millimeters – the following explanatory legend must be included:

“In accordance with the legislation and regulations in force, the status of representative of a foreign financial institution not authorized to operate in the country does not authorize the raising of funds from the public for itself or for the represented foreign financial institution. The representative in such capacity is also not authorized to carry out foreign exchange transactions under the terms of Law 18.924, on Exchange Houses, Agencies and Offices. Non-compliances related to the improper raising of funds are subject to the application of the sanctions provided for in art. 41 of the Law on Financial Institutions, while those related to foreign exchange operations will give rise to the application of the Criminal Exchange Regime.”

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “REPRESENTATIVES OF FOREIGN FINANCIAL INSTITUTIONS NOT AUTHORIZED TO OPERATE IN THE COUNTRY”

CONSOLIDATED TEXT			SOURCE RULE					OBSERVATIONS
Sect.	Point	Para.	Com.	Annex	Chap.	Sect.	Point	Para.
1.	1.1.		"A" 2241		VI	1.	1.		According to Com. "A" 4775 (point 1.) and 4981.
	1.2.		"A" 2241		VI	6. and 9.	9.4.	1st	According to Com. "A" 4981 and 6419.
	1.3.		"A" 2241		VI	5.			According to Com. "A" 4981.
	1.4.		"A" 2241		VI	7.			According to Com. "A" 4981 and 5093.
	1.5.1.		"A" 2241		VI	8. and 9.	9.4.	2° and 2°	According to Com. "A" 4981.
	1.5.2.		"A" 2241		VI	8.		1°	According to Com. "A" 4981.
	1.5.3.		"A" 4981
	1.5.4.		"A" 2241		VI	8.		1°	According to Com. "A" 4981.
	1.6.1.		"A" 4981
	1.6.2.		"A" 2241		VI	9.	9.4.	1° and 2°	According to Com. "A" 4981 and 6419.
2.	2.1.		"A" 2241		VI	1.			According to Com. "A" 4775 (item 1.) and 4981.
	2.2.	1°	"A" 2241		VI	2.			According to Com. "A" 4775 (item 1.), 4981 and 6304
		2°	"A" 2241		VI	3.	3.1.	Last	According to Com. "A" 4775 (item 1.) and 4981.
	2.2.1.		"A" 2241		VI	3.	3.1.		According to Com. "A" 2362, 4775 (item 1.), 4835 (item 5.), 4981 and 6327.
	2.2.2.		"A" 2241		VI	3.	3.2.		According to Com. "A" 4775 (item 1), 4981, 5223, 5248, 5408, 5485 (item 11), 5785 and 6304.
	2.3.		"A" 4981
	2.4.		"A" 2241		VI	4.	4.1.	2°	According to Com. "A" 4775 (item 1) and 4981.
	2.5.		"A" 2241		VI	4.	4.1.	1°	According to Com. "A" 3700 (item 3), 4775 (item 1), 4981, 5785 and 6304.
	2.6.		"A" 2241		VI	4.	4.2.		According to Com. "A" 4775 (item 1) and 4981.
3.	3.1.		"A" 4981
	3.2.		"A" 2241		VI	10.			According to Com. "A" 4981 and 5202.
4.			"A" 2241		VI	3.	3.3.	1° and 2°	According to Com. "A" 3700 (item 2) and 4981.
5.	5.1.		"A" 2241		VI	9.	9.1.1. and 9.1.2.		According to Com. "A" 4775 (item 1), 4981, 6304 and 6327.
	5.2.		"A" 2241		VI	9.	9.1.3.		According to Com. "A" 2822 (item 1), 4775 (item 1), 4981, 6304 and 6327.

B.C.R.A. APPLICATION OF THE DEPOSIT GUARANTEE INSURANCE SYSTEM

5.3.4. SEDESA shall reject or postpone until its judicial recognition the request for coverage under this guarantee regime when the deposits do not meet the requirements established in the applicable rules or when the depositors do not present materially and formally valid instruments.

5.3.5. SEDESA may require, prior to the settlement of the guarantee, that depositors justify the origin and availability of the deposited funds through evidence demonstrating their plausibility and/or that the effective entry of the funds into the entity has been verified for each transaction covered by the regime.

In addition, the aforementioned company must file the pertinent report when it detects irregularities or a criminal offense aimed at obtaining undue collection of the guarantee.

6. Instrumentation.

In all documents representing passive operations (certificates, deposit slips, receipts issued by ATMs, account statements, etc.), the following legend must appear, visibly and printed on the front or back thereof:

"Deposits in pesos and in foreign currency are guaranteed up to $ 450,000. In transactions in the name of two or more persons, the guarantee shall be prorated among its holders. In no case may the total guarantee per person and per deposit exceed $ 450,000, whatever the number of accounts and/or deposits. Law 24.485, Decree No. 540/95 and amendments and Com. "A" 2337 and its amendments and supplements. Those taken at rates higher than the reference rate in accordance with the limits established by the Central Bank, those acquired by endorsement and those made by persons related to the financial institution are excluded."

In the event that any of the situations mentioned last occurs, the following legend must be placed visibly on the front of the documents:

"Unsecured deposit"

This last requirement shall not apply when the transactions are carried out through automated teller machines belonging to networks that enable the operational interconnection of financial institutions.

The institutions must keep the complete texts of Law 24.485, Decree No. 540/95 (updated text) and these regulations available to their clientele.

In addition, in the advertising carried out by financial institutions related to the deposits they take, the existence of a limited guarantee for their return must be stated.

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CENTRAL BANK OF THE ARGENTINE REPUBLIC

APPLICATION OF THE DEPOSIT GUARANTEE INSURANCE SYSTEM

CONSOLIDATED TEXT	SOURCE RULE	OBSERVATIONS
Point	Paragraph	Com.	Annex	Point	Paragraph
6.		"A" 2337	I	7.		S/Com. "A" 2399, 3270, 4874, 5170, 5641, 5659, 5891, 5943, 6435 and 6419. Includes interpretive clarification. Dec. No. 1292/96.
7.	1st	"A" 2337	II	1.		S/Com. "A" 2561.
7.1.		"A" 2337	II	1.		S/Com. "A" 2561, 4040, 5369 and 5417.
7.2.		"A" 2337	II	2.		S/Com. "A" 2561.
8.		"A" 2807	II and III
8.1.		"A" 2807	II			S/Law 25.089.
8.2.		"A" 2807	III			S/Dec. No. 1292/99 and No. 1653/15. S/Com. "A" 4206, 5816 and 6435.
9.		"A" 5710		2.

B.C.R.A.
DEPOSIT CERTIFICATES FOR INVESTMENT (CEDIN)

Index

1. Registration of the CEDIN.

1.1. Subscription of the CEDIN.

1.2. Issuance of the CEDIN on behalf and by order of the BCRA.

2. Characteristics of the CEDIN.

2.1. Formal.

2.2. Security.

2.3. Design (front and back).

3. Distribution.

4. Endorsement.

5. Criteria to be observed by financial institutions for the verification of the certificate, the application and the payment.

6. Verification of the certificate.

7. Verification of the application.

8. Payment of the CEDIN on behalf and by order of the BCRA.

9. Exchange of the CEDIN.

10. Consultation of CEDIN data with the BCRA.

11. Delivery to the Central Bank of the CEDIN and documentation by financial institutions.

12. Loss, theft or destruction of the CEDIN.

13. General provisions.

14. Recommendations to users.

Correlation table.

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B.C.R.A.
INVESTMENT DEPOSIT CERTIFICATES (CEDIN)

In the event of loss, theft or destruction of the CEDIN, the dispossessed holder shall immediately report what happened at any branch of a financial institution, by means of a note formally received. Among other elements, the notification must contain the amount, number and series of the CEDIN, a description of the circumstances of acquisition of the CEDIN as well as of its loss, theft or destruction –as applicable– and reliable proof of the pertinent report, made before the competent authority, and may resort to the procedure provided for in Chapter XI of Decree Law 5965/63.
In accordance with the provisions of art. 9 of Law 26.860 “the taxable events originating from the transfer of the foreign currency that is externalized, as well as those that may correspond to its deposit and withdrawal from the respective bank accounts, provided for in articles 4 and 7” of that law, shall be exempt from the Tax on Credits and Debits in Bank Accounts and Other Transactions.

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INVESTMENT DEPOSIT CERTIFICATES (CEDIN)

CONSOLIDATED TEXT	SOURCE RULE	OBSERVATIONS
Point	Paragraph	Commun.	Chapter	Point	Paragraph
12.1.		“A” 5447
12.2.		“A” 5447
12.3.		“A” 5447
13.1.		“A” 5447
13.2.	1st	“A” 5447				S/Com. “A” 5613.
	2nd	“C” 66459				S/Com. “A” 5633.
13.3.		“A” 5447
13.4.		“A” 5447
13.5.		“A” 5447
13.6.		“A” 5447
13.7.		“A” 5447
13.8.	1°	“A” 5447				S/Com. “C” 66459.
	2°	“B” 10669		18.
14.		“A” 5447

B.C.R.A.
CONSOLIDATED TEXT OF THE RULES ON
“CIRCULACIÓN MONETARIA”

7.35. Commemorative banknote of the Sixtieth Anniversary of the Passing of Mrs. María Eva Duarte de Perón.

7.36. Commemorative coin of the Dakar Rally Argentina-Chile 2010.

7.37. Commemorative coins of the Bicentennial of the May Revolution.

7.38. Commemorative coins of the Bicentennial of the First National Currency.

7.39. Commemorative coin of the IX Ibero-American Series.

7.40. Commemorative coin of the 2014 Brazil Football World Cup.

7.41. Commemorative coin of the Fabulous 15 Program “Tango”.

7.42. Commemorative coin of the Fabulous 15 Program “El Payador”.

7.43. Commemorative coin of the 80th Anniversary of the Creation of the Central Bank.

7.44. Commemorative coin of the Bicentennial of the Argentine Declaration of Independence.

7.45. Commemorative coin of the X Ibero-American Series.

7.46. Commemorative coin of the XI Ibero-American Series.

Section 8. Cancelatory checks.

8.1. Characteristics of Cancelatory Checks (CHC).

8.2. Distribution.

8.3. Purchase of CHC at financial institutions by the public.

8.4. Collection of CHC at financial institutions by the public.

8.5. Query to the cancelatory checks database.

8.6. Delivery of CHC to the Central Bank by financial institutions.

8.7. Loss, theft or destruction of the cancelatory check.

8.8. Attachments.

8.9. Collection of CHC with opposition.

8.10. Sale and management service.

Correlation table.

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CIRCULACIÓN MONETARIA
B.C.R.A.
Section 8. Cancelatory checks.

8.9. Collection of CHC with opposition.

8.9.1. In the event that the legitimate final beneficiary of a CHC with opposition does not have the physical instrument and has carried out the actions specified in point 8.7.1. –“obligations incumbent on the dispossessed holder”–, they may appear for its collection management at the BCRA.

8.9.2. In the event that the CHC with opposition presented for collection has an endorsement certified by a public notary, the beneficiary must be requested, prior to payment, to provide certification of the notary's signature at the Notaries' Association, without prejudice to verifying compliance with the provisions of point 8.4.1. In the event that the CHC with opposition presented for collection does not have an endorsement certified by a public notary, the actions described in point 8.9.4 shall be carried out.

8.9.3. In the event that it has been verified in the query to the cancelatory checks database that the CHC presented for collection is in “Attached” status, it must be verified against the information provided by the aforementioned query whether the beneficiary holder is the one who is attached. If this is not the case, payment shall proceed after executing the actions set forth in point 8.4.1. If the holder of the CHC is attached, the actions described in point 8.9.4 shall be carried out.

8.9.4. The financial institution must retain the CHC with opposition presented for collection, under the responsibility of the complainant, and photocopy by duplicate the front and back of said document.

Deliver to the presenter a receipt and a copy of the screen of the query to the database administered by the BCRA of cancelatory checks with opposition, duly signed and stamped by the institution.

Send within 5 calendar days the retained CHC with opposition to the BCRA –Treasury Management–, by note -in original and copy- with letterhead of the presenting institution, which must be countersigned with signatures registered at the BCRA and in which at least its numbering, amount, date of integration must be detailed.

8.10. Sale and management service.

Financial entities must provide the service of sale and management of the cancelatory check free of charge.

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MONETARY CIRCULATION


CONSOLIDATED TEXT			ORIGINATING STANDARD			OBSERVATIONS
Section	Point Paragraph	Com.	Chapter	Point	Paragraph
	8.1.	“A” 3201	Annex	1.		According to Com. “A” 5130.
	8.1.1.	“A” 3201	Annex	1.1.8.		According to Com. “A” 5130 and 5385.
	8.1.2.	“A” 3201	Annex	1.2.		According to Com. “A” 5130.
	8.1.3.	“A” 5130
	8.2.	“A” 3201				According to Com. “A” 5130.
	8.2.1.	“A” 3201		1.		According to Com. “A” 5130.
	8.2.2.	“A” 3202				According to Com. “A” 5130.
	8.2.3.	“A” 3210				According to Com. “A” 5130.
	8.2.4.	“A” 3201				According to Com. “A” 5130.
	8.3.	“A” 3201				According to Com. “A” 5130.
	8.3.1.	“A” 3201		5.		According to Com. “A” 5130.
	8.3.2.	“A” 3201		6.		According to Com. “A” 5130.
	8.3.3.	"A" 3201		7.		According to Com. "A" 5130.
	8.3.4.	"A" 3201	Annex	3.		According to Com. "A" 5130.
	8.4.	"A" 3201				According to Com. "A" 5130.
	8.4.1.	"A" 3201		8.		According to Com. "A" 5130.
	8.4.2.	"A" 3201		9.		According to Com. "A" 5130.
	8.4.3.	"A" 3201		10.		According to Com. "A" 5130.
	8.5.	"A" 3201				According to Com. "A" 5130.
	8.6.	"A" 3201		13.		According to Com. "A" 5130.
	8.7.	"A" 3201				According to Com. "A" 5130.
	8.7.1.	"A" 3201		14.		According to Com. "A" 5130.
	8.7.2.	"A" 5130
	8.8.	"A" 3201				According to Com. "A" 5130.
	8.9.	"A" 3201		16.		According to Com. "A" 5130.
8.	8.10.	"A" 5127		4.	2°	According to Com. "A" 5178.

B.C.R.A.
DEMAND DEPOSIT ACCOUNTS OPENED AT
COOPERATIVE CREDIT UNIONS

Section 7. "Central Register of Rejected Bills of Exchange", "Central Register of Disqualified Drawers of Bills of Exchange" and "Central Register of Bills of Exchange Reported as Lost, Stolen or Adulterated".

7.1. Administration.

7.2. Grounds for inclusion.

7.3. Cancellations of rejected bills of exchange.

7.4. Guidelines for inclusion.

7.5. Information to the Central Bank of the Argentine Republic.

7.6. Exclusion of covered persons.

7.7. Lack of information. Sanctions.

7.8. Opening of accounts with apocryphal documentation.

7.9. Controls and documentation.

Section 8. Closing of accounts and suspension of the bill of exchange payment service as a prior measure to account closure.

8.1. Grounds.

8.2. Procedure.

8.3. Suspension of the bill of exchange payment service prior to account closure.

8.4. Controls and documentation.

Section 9. Notices.

9.1. General aspects.

9.2. Minimum content.

Section 10. General provisions.

10.1. Recommendations for the use of automated teller machines.

10.2. Issuance of bills of exchange and return of deposits.

10.3. Return of bills of exchange to the drawers.

10.4. Discriminatory acts.

10.5. Manner of computing time limits.

10.6. Transfer service. Charges and/or commissions.

10.7. Special procedures for customer identification in matters of international tax cooperation.

10.8. Transactions at automated teller machines in the country not operated by financial institutions.

10.9. Opening of accounts remotely.

Correlation table.

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Conformity with the movements recorded in the cooperative credit union's account shall be presumed if, within 60 calendar days following the end of the respective period, no claim has been filed with the institution.

When interest on credit balances is recognized, the nominal and effective rates, both annual, corresponding to the reported period shall be informed.

In addition, the legend that must be included regarding deposit guarantee shall be stated, as provided in point 6. of the rules on “Application of the deposit guarantee insurance system” and, in the place determined by the cooperative credit union, the tax identification number (CUIT, CUIL or CDI) of the account holders, according to the depositary's records. It shall be mandatory to record the data of up to three of its holders; when they exceed that number, the total quantity shall also be indicated.

The cooperative credit union may choose to make statements available to holders by electronic means (“SMS”, “home banking”, automated teller machines, etc.).

Such means shall be complementary, and therefore shall not replace the obligation to send them in printed form, which, in the event of discrepancy in information, shall be considered valid for the purposes of the contractual relationship.

1.5.2.4. Inform the holder of the balance recorded in the corresponding accounts at the offices of the cooperative credit union and/or at the places indicated by the holders or agreed with them, such communication may be made through electronic means.

1.5.2.5. Pay at sight –except in the cases referred to in point 1.5.2.7., second paragraph– the bills of exchange drawn on the forms delivered to the holder, in accordance with the legal and regulatory provisions in force at the date of issuance of the bill of exchange, taking into account, regarding presentation periods, those established in article 40 of Chapter VI of Decree-Law 5965/63.

In the case of bills of exchange at a fixed day, that period shall be computed from the payment date stated on the instrument.

1.5.2.6. Adopt the necessary procedures to make payment of bills of exchange, assuming the pertinent legal responsibilities in the case of documents incorrectly paid.

With respect to the truncation of bills of exchange, the guidelines contained in the agreements formalized in that regard with other financial institutions must be observed in that aspect.

1.5.2.7. Identify the beneficiary or the person presenting the bill of exchange at the counter, whose signature, clarification and domicile, and the type and number of identity document that corresponds in accordance with the provisions of point 1.3.1.9., must be recorded on the back of the document.

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DEMAND DEPOSIT ACCOUNTS OPENED AT COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 2. Account movements.

df: 365.

2.3.5. Advertising.

In advertisements or publications made through any graphic medium (newspapers, magazines, billboards on public roads, etc.), of the different investment alternatives offered, entities must set out in a legible and prominent manner the following information:

i) Nominal annual interest rate.

ii) Effective annual interest rate.

2.4. Truncation of clearing bills of exchange.

2.4.1. Granting of reciprocal mandate.

For the purposes of applying the bill of exchange truncation procedure for the payment of documents processed through electronic funds clearing houses, based on the agreements formalized between the cooperative credit unions, they shall be deemed to have granted a reciprocal mandate with respect to compliance with their obligations as drawee entity, by application of Law 26.173 and regulatory rules issued by the Central Bank of the Argentine Republic.

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B.C.R.A.
DEMAND DEPOSITS OPENED IN COOPERATIVE CREDIT UNIONS
Section 2. Movement of accounts.

10.1. Recommendations for the use of automated teller machines.

10.1.1. Cooperative credit unions that provide magnetic cards to be used in carrying out transactions linked to the demand deposit with automated teller machines must alert and recommend to users the precautions they should take to ensure their correct use.

10.1.2. The following are the recommendations and precautions that, at a minimum, must be communicated to users:

10.1.2.1. Request from the cooperative credit union staff all information they deem necessary about the use of automated teller machines at the time of first accessing the service or before any doubt that may arise subsequently.

10.1.2.2. Change the identification or access code or personal key or password ("password", "PIN") assigned by the cooperative credit union, for one that the user selects, which must not be their personal address or date of birth or another number that can be easily obtained from documents kept in the same place as their card.

10.1.2.3. Do not disclose the personal key number or write it on the magnetic card provided or on a paper kept with it, since said code is the key to entering the system and therefore to their accounts.

10.1.2.4. Do not enter the personal key in the presence of outsiders, even if they pretend to help, nor provide the magnetic card to third parties, since it is for personal use.

10.1.2.5. Keep the magnetic card in a safe place and periodically verify its existence.

10.1.2.6. Do not use automated teller machines when abnormal operation messages or situations are encountered.

10.1.2.7. When making a deposit transaction, ensure to insert the envelope containing the cash or bills of exchange together with the first receipt issued by the ATM during the process of that transaction, in the slot specific for that function, and withdraw the receipt that the machine provides at the end of the transaction, which will serve for a possible subsequent claim.

10.1.2.8. Do not forget to withdraw the magnetic card at the end of the transactions.

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DEMAND DEPOSITS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 2. Movement of accounts.

10.1.2.9. If the ATM retains your card or does not issue the corresponding receipt, immediately report that situation to the cooperative credit union with which you operate and to the entity administering the automated teller machine.

10.1.2.10. In case of loss or theft of your card, immediately report this situation to the cooperative credit union that issued it.

10.1.2.11. In case of withdrawals, when there are differences between the receipt issued by the ATM and the amount actually withdrawn, immediately report that circumstance to the entity where the transaction was made and to the system administrator, in order to solve the problem.

10.2. Issuance of bills of exchange and return of deposits.

10.2.1. Accounts to reciprocal or indistinct order.

The cooperative credit union will accept bills of exchange drawn by any of the holders, even in cases of death or subsequent incapacity of the others, provided that there is no contrary judicial order.

10.2.2. Accounts to joint or collective order.

The cooperative credit union will only accept bills of exchange signed by all holders corresponding to the order and, in case of death or incapacity of any of them, a judicial order will be required to dispose of the balance.

10.2.3. Accounts in the name of one or more persons and to the order of another.

10.2.3.1. Cooperative credit unions will accept, in all cases, bills of exchange drawn by the person to whose order the account is held, except as provided in subsection 10.2.3.2.

10.2.3.2. If the death or incapacity of the person to whose order the account is held occurs, the balance of the demand deposit will be delivered to its holder or to the person to whom the administration of their assets corresponds in accordance with the provisions of the Civil and Commercial Code of the Nation. If the death of the account holder occurs, the deposited funds will be available to those who are their successors.

10.3. Return of bills of exchange to the drawers.

Bills of exchange may be returned to the drawers under the conditions agreed upon by the cooperative credit unions with their clients, in accordance with the rules on "Conservation and reproduction of documents".

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DEMAND DEPOSITS OPENED IN COOPERATIVE CREDIT UNIONS B.C.R.A.
Section 2. Movement of accounts.

10.4. Discriminatory acts.

Cooperative credit unions must adopt the necessary precautions to prevent discriminatory acts against their clientele, for which they must observe the provisions of the rules on "Protection of users of financial services".

10.5. Manner of computing time limits.

When the expiration of the terms established in these regulations occurs on a non-banking business day, it will be moved to the next banking business day.

10.6. Transfer service. Charges and/or commissions.

Cooperative credit banks must adjust their scheme for charging these items to the provisions set forth below.

10.6.1. Transfers ordered or received by clients that have the status of users of financial services under the terms of point 1.1.1. of the rules on "Protection of users of financial services" shall not be subject to charges and/or commissions.

For clients that do not have that status, transfers ordered or received by electronic means -e.g. automated teller machine, Internet banking ("home banking") and self-service terminals- shall not be subject to charges and/or commissions up to the amount of $ 250,000 -daily accumulated-. This is without prejudice to the additional services to facilitate the bulk loading of such transactions in the systems offered by cooperative credit banks to clients (and provided that they are not charged amounts related to the amounts transferred) and to the items that must be passed on to clients for taxes, withholdings, etc., according to the applicable legal rules.

No additional commission and/or charge shall apply on the part of the financial institution for any other item -administrative, operational or of any other nature-, without prejudice to the fact that the commissions charged between entities and to customers for geographic coverage may remain in force -at the values in force as of 23.9.10-, in those cases where so provided.

10.6.2. Transfers from or to demand accounts for judicial use.

Transfers of funds from or to these accounts must be without charges or commissions for the originator.

With respect to transfers to these accounts, the cooperative credit bank receiving the transfer must verify that the destination account of the funds corresponds to a demand account for judicial use. If such correspondence is not verified,

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DEMAND ACCOUNTS OPENED IN COOPERATIVE CREDIT BANKS B.C.R.A.
Section 2. Movement of accounts.

it must proceed with the return of the transaction, in accordance with the provisions of the applicable regulations on that matter.

10.7. Special procedures for identifying clients in matters of international tax cooperation.

Based on the Standard of the Organisation for Economic Co-operation and Development (OECD) for Automatic Exchange of Information in Tax Matters and the provisions of the United States of America's Foreign Account Tax Compliance Act (FATCA), financial institutions must take the necessary measures to identify the account holders covered by said standard and provisions.

For this purpose they shall proceed to:

10.7.1. Include, in the files of clients that are covered and are natural persons (also encompassing those that control non-financial entities of the country included), in addition to the data on nationality and place and date of birth, the information on the country of tax residence and the address and tax identification number with the pertinent supporting documentation.

In the case of legal persons and other covered clients, the respective information shall comprise the country of tax residence and the address and tax identification number in that country.

10.7.2. Comply with the confidentiality safeguards referred to in art. 39 of the Law on Financial Institutions and art. 5, ap. 2, inc. e) of the Law on Personal Data Protection.

The information on covered clients must be submitted to the Federal Administration of Public Revenue, in accordance with the regime that Administration establishes.

The scopes and definitions referring to covered subjects, accounts and data to be supplied, as well as the due diligence procedures, shall be understood in accordance with the terms of the document "Standard for Automatic Exchange of Financial Account Information-Common Reporting Standard" approved by the OECD.

10.8. Operations at automated teller machines in the country not operated by financial institutions.

Financial institutions that offer demand accounts must allow their clients to carry out operations through automated teller machines installed in the country and operated by non-financial companies.

Those devices must previously inform the client of the operations allowed and the price of their use -clarifying that this price will be the same regardless of the quantity and type of transactions to be carried out and stating the legend "This operation at a

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Section 2. Movement of accounts.

financial institution could have no cost"- and allow it to withdraw from its use at no cost. The financial institution issuing the debit card may not collect from its clients any type of additional commission to the one informed by these devices.

Financial institutions may not have any type of participation or link -in the latter case, in accordance with the provisions of point 2.2. of the rules on "Credit risk fragmentation"- with the non-financial companies that operate and/or administer these automated teller machines.

10.9. Opening of accounts remotely.

10.9.1. When cooperative credit banks allow the remote opening of accounts through electronic and/or communication means, they must comply with the following requirements:

10.9.1.1. Ensure that such means allow them to fully comply with the regulations on the prevention of money laundering and terrorist financing –especially with regard to customer identification and knowledge–, as well as the remaining applicable provisions.

10.9.1.2. The procedures, technologies and controls used for the non-face-to-face opening of the aforementioned accounts must ensure compliance with the provisions on electronic channels and those related to the preservation, integrity, authenticity and confidentiality of the information and documents used, in order to protect them against alteration or destruction, as well as against improper access or use.

10.9.1.3. In the case of accounts in the name of legal persons, the following must be complied with:

i) Cooperative credit banks must adopt procedures, technologies and controls that allow verifying the identity of the natural person requesting the opening as legal representative or attorney-in-fact, the authenticity of the instruments accrediting the authority invoked and the identifying data of the legal person, which may include requesting information from public and/or private databases for comparison with the data received from the applicant.

ii) The legal person must present at the branch where the account is located, within 60 calendar days of the opening request, a certified copy of the bylaws or social contract with evidence of its registration by the competent corporate control authority in the Public Registry of the corresponding jurisdiction, except when the entity obtains it electronically or digitally in accordance with the provisions of point 1.3.2.4.

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B.C.R.A.
DEMAND DEPOSIT ACCOUNTS OPENED AT COOPERATIVE CREDIT BANKS
Section 2. Account activity.

10.9.2. When required by another financial entity authorized to operate in the country in order to process a request for non-face-to-face opening of a demand account under the conditions described above, cooperative credit banks may –in accordance with the provisions of article 39 subsection d) of Law 21.526– provide information regarding their customers that allows:

i. establishing their identity and personal data, in the case of natural persons;

ii. establishing the attributes of their legal personality and profile as well as the identity and personal data of the legal representatives or attorneys-in-fact, in the case of legal persons.

For such purposes, the entities must previously obtain the consent of the respective customer and comply with the requirements set forth in Law 25.326 on Personal Data Protection (and amendments).

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “DEMAND DEPOSIT ACCOUNTS OPENED AT COOPERATIVE CREDIT BANKS”

TEXT AS AMENDED	SOURCE RULE	OBSERVATIONS
Sec.	Point	Para.	Com.	Annex	Sec.	Point	Para.
1.	1.1.		“A” 4713	Sole	1.	1.1.		S/Com. “A” 5520 and 5612.
	1.2.		“A” 4713	Sole	1.	1.2.
	1.3.		“A” 4713	Sole	1.	1.3.		S/Com. “A” 5387, 5728 and 6273.
	1.4.		“A” 4713	Sole	1.	1.4.
	1.5.		“A” 4713	Sole	1.	1.5.
	1.5.2.1.		“A” 4713	Sole	1.	1.5.
	1.5.2.2.		“A” 4713	Sole	1.	1.5.
	1.5.2.3.		“A” 4713	Sole	1.	1.5.		S/Com. “A” 4971 (item 9.), 5000, 5022, 5161 and 6462.
	1.5.2.4.		“A” 4713	Sole	1.	1.5.
	1.5.2.5.		“A” 4713	Sole	1.	1.5.
	1.5.2.6.		“A” 4713	Sole	1.	1.5.
	1.5.2.7.		“A” 4713	Sole	1.	1.5.
	1.5.2.8.		“A” 4713	Sole	1.	1.5.
	1.5.2.9.		“A” 4713	Sole	1.	1.5.		S/Com. “A” 5482.
	1.5.2.10.		“A” 4713	Sole	1.	1.5.
	1.5.2.11.		“A” 4713	Sole	1.	1.5.
	1.5.2.12.		“A” 4713	Sole	1.	1.5.
	1.5.2.13.		“A” 4713	Sole	1.	1.5.
	1.5.2.14.		“A” 4713	Sole	1.	1.5.
	1.5.3.		“A” 4713	Sole	1.	1.5.		S/Com. “A” 5461, 5482 and 5928 (item 8.).
	1.5.4.		“A” 4713	Sole	1.	1.5.		S/Com. “A” 5482.
2.	2.1.		“A” 4713	Sole	2.	2.1.		S/Com. “A” 4936, 4971 and 5000.
	2.2.		“A” 4713	Sole	2.	2.2.
	2.3.		“A” 4713	Sole	2.	2.3.		S/Com. “A” 5068, 6148 and 6419.
	2.4.		“A” 4713	Sole	2.	2.4.
3.	3.1.		“A” 4713	Sole	3.	3.1.
	3.2.		“A” 4713	Sole	3.	3.2.		S/Com. "A" 6071.
4.	4.1.		"A" 4713	Sole	4.	4.1.		S/Com. "A" 4755, 4849, 4971, 5000, 5025, 5263, 5508, 5869 and 6422.
	4.2.		"A" 4713	Sole	4.	4.2.
5.	5.1.		"A" 4713	Sole	5.	5.1.		S/Com. "A" 6071 and 6112. Includes interpretive clarification.
	5.2.		"A" 4713	Sole	5.	5.2.
	5.3.		"A" 4713	Sole	5.	5.3.
6.	6.1.		"A" 4713	Sole	6.	6.1.		S/Com. "A" 4971 (item 13.).
	6.2.		"A" 4713	Sole	6.	6.2.
	6.3.		"A" 4713	Sole	6.	6.3.		S/Com. "A" 4971 (item 13.) and 5000.
7.	7.1.		"A" 4713	Sole	7.	7.1.		S/Com. "A" 4971 (item 14.) and 5000.
	7.2.		"A" 4713	Sole	7.	7.2.		S/Com. "A" 4971 (pto. 15.) and 5000.
	7.3.		"A" 4713	Sole	7.	7.3.		S/Com. "A" 4971 (pto. 14.).
	7.4.		"A" 4713	Sole	7.	7.4.
	7.5.		"A" 4713	Sole	7.	7.5.
	7.6.		"A" 4713	Sole	7.	7.6.
	7.7.		"A" 4713	Sole	7.	7.7.		S/Com. "A" 4971 (pto. 14.) and 5000.

DEMAND DEPOSIT ACCOUNTS OPENED AT COOPERATIVE CREDIT UNIONS

CONSOLIDATED TEXT
RULE OF ORIGIN


Sec.	Point Para.	Com.	Annex	Sec.	Point	Para.	OBSERVATIONS
7.	7.8.	"A" 4713	Sole	7.	7.8.
	7.9.	"A" 4713	Sole	7.	7.9.
8.	8.1.	"A" 4713	Sole	8.	8.1.
	8.2.	"A" 4713	Sole	8.	8.2.
	8.2.1.	"A" 4713	Sole	8.	8.2.		S/Com. "A" 6042.
	8.2.2.	"A" 4713	Sole	8.	8.2.
	8.3.	"A" 4713	Sole	8.	8.3.
	8.4.	"A" 4713	Sole	8.	8.4.
9.	9.1.	"A" 4713	Sole	9.	9.1.
	9.2.	"A" 4713	Sole	9.	9.2.
10.	10.1.	"A" 4713	Sole	10.	10.1.		S/Com. "A" 6419.
	10.2.	"A" 4713	Sole	10.	10.3.
	10.3.	"A" 4713	Sole	10.	10.4.
	10.4.	"A" 4713	Sole	10.	10.5.		S/Com. "A" 5388.
	10.5.	"A" 4713	Sole	10.	10.6.
	10.6.	1°	“A” 5212
	10.6.1.	“A” 5127		3.			S/Com. “B” 9961 and “A” 5164, 5212, 5473, 5718 and 5927 (item 3.).
	10.6.2.	“A” 5212					S/Com. “A” 5718.
	10.7.	“A” 5588
	10.7.1.	“A” 5588
	10.7.2.	“A” 5588
	10.8.	“A” 5928		10.			S/Com. “A” 6236.
	10.9.	“A” 6273

FOREIGN EXCHANGE AND EXCHANGE CONTROLS
B.C.R.A.
Section 2. Other provisions.

The bid and ask quotations for the US dollar and the euro reported by the entities adhering to the system for their over-the-counter operations and their Internet operations shall be available.

Likewise, the bid and ask retail reference exchange rates (TCMR) calculated by the BCRA from the reported values may be consulted.

2.4.2. Operations at ports, international airports and international land transport terminals.

In the case of operating houses located at ports, international airports and international land transport terminals, the bid and ask retail exchange rates offered may not differ by more than 3% from those operated by Banco de la Nación Argentina on the same day without commissions. In the case of operations outside the business hours of financial entities, the comparison shall be made against the last closing retail exchange rates of Banco de la Nación Argentina.

2.5. Exchanges and arbitrages with credit/debit to local accounts in foreign currency.

Financial entities must allow the crediting of foreign currency inflows from abroad to accounts opened by the client in foreign currency and the debiting of funds deposited therein for transfer abroad.

If the transfer corresponds to the same currency in which the account is denominated, the entities must credit or debit the same amount received or sent abroad.

When the entities decide to charge a commission and/or fee for these operations, it must be instrumented through a specifically individualized concept.

2.6. Automatic crediting to local accounts of funds received from abroad.

When a beneficiary account is specified in the transfer from abroad, the financial entity must credit the funds received directly and without intervention by the client, unless the client has instructed otherwise previously and expressly. If the currency of the transfer received is different from the currency in which the account is denominated, the amount to be credited must be determined considering the exchange rate and/or market swap in force on the day of the operation.

2.7. Notification to the client of crediting of funds in correspondent accounts.

In those cases where direct crediting of the funds does not apply, the entities must have procedures that allow informing the beneficiary of the receipt of the funds within a period no greater than the next business day following the date of crediting of the funds in the correspondent account, making them available for the arrangement of exchange or for their crediting in foreign currency accounts opened in a local financial entity.

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B.C.R.A.
FOREIGN EXCHANGE AND EXCHANGE CONTROLS
Section 2. Other provisions.

2.8. Consumption and cash withdrawals at ATMs abroad. These operations may be carried out with debit to the client's local accounts in foreign currency or in pesos.

Financial entities must offer their clients the possibility of selecting and modifying the account associated with their debit card on which the debits will be made, and must take by default as the primary account in these cases the client's foreign currency account if the client has one.

2.9. Operations covered by article 3 of Decree No. 616/05. The result of the exchange settlement must be credited to a local account. If the operation is arranged at an entity other than the one where the client has their account open, the movements of funds to the client's local account may be instrumented through a direct transfer from an operating account of the entity or a non-negotiable check issued by the entity itself.

With respect to the remaining requirements provided in article 4 of the same, the provisions of Resolution No. 3/15 of the former Ministry of Finance and Public Finances and Resolution No. 1/17 of the Ministry of Finance shall apply.

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “FOREIGN EXCHANGE AND CHANGES”

CENTRAL BANK OF THE ARGENTINE REPUBLIC

CONSOLIDATED TEXT			SOURCE RULE				OBSERVATIONS
Section	Point	Para.	Comm.	Chap./ Annex	Point	Para.
1.	1.1.		“A” 6244	I	1.1.
	1.2.		“A” 6244	I	1.2.		According to Comm. “A” 6436.
	1.3.		“A” 6244	I	1.3.
	1.4.		“A” 6244	I	1.4.
	1.5.		“A” 6244	I	1.6.
	1.6.		“A” 6244	I	1.7.
	1.7.		“A” 6244	I	1.8.
2.	2.1.		“A” 6244	I	2.1.		According to Comm. “A” 6363 and 6436.
	2.2.		“A” 6244	I	2.2.		According to Comm. “A” 6401.
	2.3.		“A” 6244	I	2.3.
	2.4.		“A” 6244	I	2.4.		According to Com. "A" 6378 and 6419.
	2.5.		"A" 6244	I	2.5.
	2.6.		"A" 6244	I	2.6.		According to Com. "A" 6363.
	2.7.		"A" 6244	I	2.7.
	2.8.		"A" 6244	I	2.8.		According to Com. "A" 6363.
	2.9.		"A" 6244	I	2.9.
3.	3.1.		"A" 6244	I	3.1.		According to Com. "A" 6378.
	3.2.		"A" 6244	I	3.2.
	3.3.		"A" 6244	I	3.3.
	3.4.		"A" 6244	I	3.4.		According to Com. "A" 6363.
	3.5.		"A" 6244	I	3.5.
	3.6.		"A" 6244	I	3.6.
	3.7.		"A" 6244	I	3.7.		According to Com. "A" 6436.
	3.8.		"A" 6244	I	3.8.		According to Com. “A” 6363.
	3.9.		“A” 6244	I	3.9.
4.	4.1.		“A” 6244	I	4.1.
	4.2.		“A” 6244	I	4.2.
	4.3.		“A” 6244	I	4.3.
	4.4.		“A” 6244	I	4.4.
	4.5.		“A” 6244	I	4.5.
	4.6.		“A” 6244	I	4.6.
	4.7.		“A” 6244	I	4.7.		Includes interpretive clarification. According to Com. “A” 6312.

FINANCING LINE FOR PRODUCTION
B.C.R.A.
AND FINANCIAL INCLUSION
Section 6. Main obligations of financial institutions in the operation.

6.1. Require and have the documentation that proves compliance with the required conditions.

6.2. Assume full and absolute responsibility for the correct processing and execution of operations with their clients, as well as all credit risks arising from the loans they approve and grant.

6.3. Verify that the borrower and the credit fall within these regulations.

6.4. Open a specific file for each financing granted, with all the information corresponding to the application, evaluation and pertinent documentation, in accordance with the provisions of point 3.4. of the rules on “Debtor classification”.

6.5. Consider that the interest rates to be applied for financings that they may eventually grant in order to complement this line – whatever their concept: additional margin, working capital, etc. – must be related to the average rates charged to clients for those purposes in order not to distort the objective of this regime.

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “FINANCING LINE FOR PRODUCTION AND FINANCIAL INCLUSION”

CONSOLIDATED TEXT			SOURCE RULE				OBSERVATIONS
Sect.	Point	Para.	Com.	Annex	Sec.	Point Para.
1.			"A" 5874	sole		1.
2.	2.1.1.		"A" 5874	sole		2.	According to Com. "A" 5975 and 6084.
	2.1.2.		"A" 5975			3.	According to Com. "A" 6084.
	2.2.1.		"A" 6084			2.
	2.2.2.		"A" 6259			1.
	2.3.		"A" 6352			1.
3.	3.1.		"A" 5874	sole		3.	According to Com. "A" 5975, 6209, 6217 and 6352.
	3.2.		"A" 5975			3.	According to Com. "A" 6084, 6217, 6259 and 6352.
	3.3.		"A" 6084			3.	According to Com. "A" 6259 and 6352.
4.	4.1.		"A" 5874	sole		4.1.
	4.2.		"A" 5874	sole		4.2.	According to Com. "A" 5923, 5975, 6084, 6259 and 6352.
	4.3.		"A" 5874	sole		4.3.	According to Com. "A" 6084.
	4.4.		"A" 5874	sole		4.4.
	4.5.		"A" 5874	sole		4.5.	According to Com. “A” 5950, 6069, 6084 and 6120.
	4.6.		“A” 5874	sole		4.6.	According to Com. “A” 5950, 6069, 6084 and 6120.
	4.7.		“A” 5874	sole		4.7.	According to Com. “A” 5975 and 6084.
	4.8.		“A” 5913			1.	According to Com. “A” 5929 and 5975.
	4.9.		“A” 5975			4.
	4.10.		“A” 6032			1.
	4.11.		“A” 6120			2.	According to Com. “A” 6217.
	4.12.		“A” 6317			1.
5.	5.1.		“A” 5874	sole		5.1.	According to Com. “A” 5898, 5975, 6084 and 6317.
	5.2.		“A” 5874	sole		5.2.	According to Com. “A” 5975, 6032, 6084 and 6317.
6.			“A” 5874	sole		6.	According to Com. “A” 6419.
7.	7.1.		“A” 5874	sole		7.1.
	7.2.		“A” 5874	sole		7.2.
8.			“A” 5874	sole		8.
9.			"A" 5874	único		9.
10.			"A" 5874	único		10.
11.			"A" 5874	único		11.	According to Com. "A" 5975, 6084, 6304 and 6352.
12.			"A" 5874	único		12.2.	According to Com. "A" 5975 and 6084.

-Index-

Section 1. General provisions.

1.1. Parties.

1.2. General criterion and supervision.

Section 2. Basic rights of users of financial services.

2.1. Concept.

2.2. Special cases.

2.3. Minimum requirements of the consumer relationship.

2.4. Advertising of information.

2.5. Information to the Central Bank of the Argentine Republic.

2.6. Other provisions.

Section 3. User service of financial services.

3.1. Minimum requirements.

3.2. Controls.

Section 4. Action of the Central Bank of the Argentine Republic.

4.1. Inquiries, suggestions and complaints.

4.2. Unanswered claims or claims with unsatisfactory responses.

4.3. Action in defense of the general interest of users.

4.4. Ex officio actions.

Section 5. Sanctions.

Section 6. Transitional provisions.

Correlation table.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 1. General provisions.

1.1. Parties.

1.1.1. User of financial services.

For the purposes of these regulations, this concept includes natural and legal persons who, for their own benefit or that of their family or social group and as final recipients, make use of the services offered by the obligated subjects listed in point 1.1.2., as well as those who in any other way are exposed to a consumer relationship with such subjects.

Debtors of credits assigned by financial entities included in the Law of Financial Entities also form part of this category, regardless of whether or not they have been duly notified of the transfer of their obligation, as well as debtors of credits acquired by financial entities through assignment.

1.1.2. Obligated subjects.

1.1.2.1. Financial entities.

1.1.2.2. Exchange operators, for operations included in the rules on "Foreign exchange and exchanges".

1.1.2.3. Trustees of trusts that are creditors of credits assigned by financial entities.

1.1.2.4. Non-financial companies issuing credit and/or purchase cards, except for operations not included in the Credit Cards Law.

When a third party performs tasks related to services offered by the obligated subjects or on their behalf, both will be responsible for compliance with these rules. The foregoing must be established in the instruments that agree to the performance of such tasks.

1.2. General criterion and supervision.

The obligated subjects must consider and resolve with grounds, taking into account the basic rights set forth in Section 2. and the rules applicable to the involved operations, the claims that, related to the services they offer and/or provide, are raised by the users of such services.

The Central Bank of the Argentine Republic (BCRA) will supervise the actions of the obligated subjects, to whom the provisions of Section 5. will apply in case of non-compliance with these rules.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 2. Basic rights of users of financial services.

These provisions shall apply for the purposes of complying with homologated out-of-court agreements, agreements homologated by class actions (article 54 of Law 24.240) or judicial judgments, to the extent that they do not conflict with what is provided in those agreements or with what is provided by the public authorities of the different jurisdictions.

Additionally, the obligated subject must verify whether this type of situation that generates the obligation to make refunds has occurred with respect to users who are in the same situation and, if applicable, proceed with their refund according to the procedure provided in this point, notifying such circumstance and results to its Officer Responsible for User Attention of Financial Services.

2.3.6. New copies of documentation.

The user of financial services may request – at their own expense and at any time during the consumer relationship – from the obligated subject new copies of the current contract(s) that bind them to it.

2.3.7. Interpretation.

The interpretation of the contract shall be made in the sense most favorable to the user of financial services. When there are doubts about the scope of its obligation, the least burdensome one shall apply.

2.3.8. Abusive clauses.

In contracts entered into between the user of financial services and the obligated subjects, the clauses that:

2.3.8.1. Distort the obligations of the obligated subject.

2.3.8.2. Entail a waiver or restriction of the rights of the user of financial services, or expand the rights of the obligated subject.

2.3.8.3. By their content, wording or presentation, it is not reasonable to expect that they be included because they have no connection with the nature of the contract.

2.3.8.4. Impose burdensome obstacles for the effective exercise of the rights of the user of financial services.

2.3.8.5. Place the user of financial services in a disadvantageous or unequal situation with the obligated subject.

2.3.8.6. Transfer the responsibility of the obligated subject to third parties.

2.3.8.7. Establish the reversal of the burden of proof to the detriment of the user of financial services.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 2. Basic rights of users of financial services.

2.3.8.8. Allow the obligated subject, directly or indirectly, to alter the amount of the rates, commissions and/or charges unilaterally, departing from the mechanism provided in all applicable regulations, for modification of contractual clauses.

2.3.9. Non-waivability.

The rights and/or powers recognized to the user by these rules may in no case be waived or renounced.

2.3.10. Denominations.

The denomination of the products or services in the applications, contracts, Internet banking system (“home banking”) and account statements must conform to that provided in the BCRA rules (“peso savings account”, “dollar savings account”, “bank current account”, “salary/social security account”, etc.), without prejudice to the fact that additional reference may be made to the commercial package that they may eventually form.

2.3.11. Insurance as an ancillary contracting to a financial service.

It comprises those insurances that are contracted for the purpose of reducing the risks associated with the financings granted by the obligated subject.

2.3.11.1. Life insurance on outstanding balance.

Obligated subjects may not receive from users any type of commission and/or charge linked to these insurances.

Such subjects must contract insurance on outstanding balance with death and permanent total disability coverage with respect to those financings granted to natural persons.

Alternatively, they may self-insure the risks derived from death and permanent total disability of the users.

In both cases, the coverage must fully extinguish the amount owed in the event of death or permanent total disability of the debtor.

2.3.11.2. Other insurances.

Obligated subjects must offer users of financial services at least three insurance companies not related to each other among which they must be able to choose, and keep record of the exercise of that right by such users.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 2. Basic rights of users of financial services.

2.4. Publicity of information.

Financial institutions and non-financial credit card issuing companies must comply with the following conditions regarding access to information by users of financial services who have the status of final consumers or micro, small and medium-sized enterprises (MiPyMEs), in the latter case in accordance with the rules on “Determination of the status of micro, small and medium-sized enterprise”:

2.4.1. In person.

All operating offices of these obligated subjects must deliver to the aforementioned users of financial services who request it a detail with the characteristics of the products and services they offer, specifying especially all the commissions and charges associated with them.

In all cases, users of financial services must be given a complete copy of the instruments they sign at the time of requesting financial products or services.

2.5. Information to the Central Bank of the Argentine Republic.

Financial entities and non-financial companies issuing credit and/or purchase cards that offer and market products and/or services that are perfected with the signature or acceptance of contracts with pre-established clauses (adhesion contracts) must report the commissions and charges they collect from financial service users through the information regime established for that purpose.

Additions –commissions for new products and/or services they wish to market– and increases in commissions they wish to implement must be previously reported through the channel set forth in the preceding paragraph and may only be notified to those financial service users after thirty (30) calendar days have elapsed from the date of information to the BCRA. They must also report modifications to charges.

Reductions in commissions and/or charges may be applied without delay, without prejudice to the fact that they must be reported to the BCRA within the following thirty (30) calendar days after their application.

2.6. Other provisions.

The policies, practices and procedures of the obligated subjects may not represent discriminatory treatment of users.

The obligated subjects must adopt the necessary measures for the purpose of particularly preventing discriminatory acts or omissions determined by reasons such as race, religion, nationality, ideology, political or union opinion, age, sex, economic position, social condition or physical characteristics.

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B.C.R.A.
PROTECTION OF FINANCIAL SERVICE USERS
Section 2. Basic rights of financial service users.

In particular, rejection of financing applications shall not be appropriate based solely on the age of the applicant, when their projected income level is sufficient and it is possible to take coverage for their death risk by contracting a life insurance policy on the outstanding balance. Notwithstanding the foregoing, it shall be the decision of the obligated subject whether or not to contract said insurance.

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PROTECTION OF FINANCIAL SERVICE USERS
B.C.R.A.
Section 3. Financial service user assistance service.

In cases where the presenter does not automatically receive the number of their inquiry or claim, a procedure must be established that provides for notification of the number or code assigned to them within three (3) business days of the initiation of the presentation before the obligated subject.

The information incorporated into this database must be kept for a term of ten (10) years.

3.1.4. Registry of Refunds of Amounts (RRI).

In this registry, the amounts refunded to users must be recorded, identifying in each case the affected user, the cause giving rise to the event, the products and houses involved.

3.1.5. Registry of Complaints before Judicial and/or Administrative Consumer Protection Instances (RDJA).

In this registry, all interventions originating from complaints filed before judicial and/or administrative consumer protection instances shall be recorded, identifying the affected user and specifying the amount involved, the cause giving rise to the event, the products and houses involved.

3.1.6. Receipt of presentations and response time.

Presentations by financial service users must be able to be made by telephone, Internet, in writing, fax, postal and electronic mail (e-mail), etc. and the data for their addressing must be available in accordance with the provisions of subsection ii) of point 4.4.1.7. of the rules on “Communication by electronic means for environmental care”.

A personalized assistance procedure must be provided for those clients who request it.

Every inquiry or claim must be definitively resolved within a maximum term of twenty (20) business days, except for the situation provided for in point 2.3.5. or when greater terms have been granted by regulation to the obligated subject to adapt normatively or when there are causes beyond said subject duly justified.

The resolution of the presentation must be notified in writing to the financial service user, allowing –in addition to the traditional means of reliable notification– the use of electronic mail when the presenter has accepted said response channel at the time of initiating their inquiry or claim.

3.2. Controls.

3.2.1. Of the obligated subjects.

3.2.1.1. Officer Responsible for the Protection of Financial Service Users/Committee for the Protection of Financial Service Users.

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PROTECTION OF FINANCIAL SERVICE USERS
B.C.R.A.
Section 4. Action of the Central Bank of the Argentine Republic.

4.1. Inquiries, suggestions and complaints.

The Principal Management of Protection of Financial Service Users shall provide responses through the enabled means to public inquiries about the regulations issued by the Institution and the information published on its institutional Internet site, providing guidance to financial service users on how to channel claims regarding the actions of the subjects provided for in point 1.1.2.

Comments, suggestions and complaints shall also be received from financial service users –through the same channel– in relation to the actions of the obligated subjects.

4.2. Claims not answered or with unsatisfactory responses.

4.2.1. When the user of financial services receives from the entity a response that they do not consider satisfactory or the period of twenty (20) business days elapses from the moment of having submitted their claim to the obligated subject without having received any response, they may report what happened to the BCRA –through any of the enabled means–, making a submission that complies with the following requirements:

4.2.1.1. Be addressed to the Principal Management of Protection of Users of Financial Services or through the electronic means enabled for such purpose on the institutional Internet site of the BCRA, presented by the user, their legal representative or attorney.

4.2.1.2. Indicate name, surname, valid identification document number –in accordance with the provisions of the rules on “Identification documents in force”–, tax identification number, real and constituted domicile of the user and, where applicable, of their representative or attorney, as well as the contact telephone number and email address.

4.2.1.3. Attach a simple copy or image of the identification document of the presenter and, in the case of legal representatives or attorneys, of the instrument that accredits their status as such, whose validity shall be assured as a sworn statement.

4.2.1.4. Relate clearly and precisely the facts and the claim made to the entity.

4.2.1.5. Provide together with the submission the identification data of the prior claim before the obligated subject (number, date, entity and branch, etc.) and, where applicable, the response of the entity.

4.2.1.6. Accompany the documentation that accredits the reported claim or indicate its location.

4.2.2. The BCRA will use the information received for the purposes of analyzing the practices and conducts of the obligated subjects in relation to the applicable regulations, identifying the universe of users reached and, upon noticing non-compliances, exercising its disciplinary powers.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 4. Action of the Central Bank of the Argentine Republic.

At the same time, the submissions received will be forwarded to the administrative authorities with competence in consumer defense for their processing and individual response to the user.

All of the foregoing is without prejudice to the administrative or judicial actions that users of financial services may exercise.

4.3. Action in defense of the general interest of users.

The Principal Management of Protection of Users of Financial Services will process the complaints presented by consumer and user associations recognized by competent authorities in the matter, when from them the possible affectation of general interests of users of financial services arises as a consequence of presumed non-compliances of the obligated subjects.

The complaining association must accredit its status as a recognized entity and comply in its submission with the pertinent requirements of point 5.2.1.

4.4. Ex officio actions.

The BCRA will initiate ex officio corrective actions in those cases that are urgent or serious and in the matters that, detected as a consequence of the provisions of the preceding points or in the framework of its action as supervisory authority, it considers may affect users in a general manner.

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B.C.R.A.
PROTECTION OF USERS OF FINANCIAL SERVICES
Section 5. Sanctions.

The obligated subject and those who are responsible will be subject to the application of the sanctions provided in the rules on “Disciplinary regime in charge of the Central Bank of the Argentine Republic, laws 21.526 and 25.065 and their amendments”, for the non-compliances that are verified with respect to these rules and with respect to the contents developed in the internal procedure manuals by reason of them.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 6. Transitional provisions.

6.1. Schedule for adaptation of automatic teller machines and documentation in Braille system. The requirements of point 2.2.3.3. must be complied with by 30.9.13, except for specific jurisdictional provisions. From 30.9.13 the right to opt to receive documentation in Braille system (point 2.2.2., second paragraph) will be enforceable.

6.2. Adaptation of user service points for the special cases of points 2.2.1. and 2.2.3.2. The requirements of priority service and exemption from forming a line (2nd paragraph of point 2.2.1., first part) are of immediate application. The requirements for the provision of adequate seats for the cases in which these users must wait to be served (point 2.2.1., second part) must be implemented by 28.2.13. Those established in point 2.2.3.2. must be complied with by 31.12.13, without prejudice to the provisions of point 2.2.3.4.

6.3. Internet and Mobile Banking. The programs corresponding to these services (point 2.2.2., third paragraph) must be fully implemented before 30.9.13.

6.4. Publicity of information and information to the BCRA (points 2.4. and 2.5). They are in force as of 1.5.13.

6.5. Minimum requirements of the consumption relationship, reports to the Board of Directors and controls of the Internal Audit. Points 2.3. (except regarding multiproduct contracts), 3.1.1.8. (quarterly frequency for reports to the Board of Directors) and the 3rd paragraph of point 3.2.1. (controls to be carried out by the Internal Audit): They will be in force as of 30.9.13.

6.6. Centralized registry of queries and claims, procedure manual and other requirements. Every requirement arising from these rules for which a special term for its compliance has not been stipulated must be fully implemented no later than 30.9.13.

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PROTECTION OF USERS OF FINANCIAL SERVICES
B.C.R.A.
Section 6. Transitional provisions.

6.7. Designation of the officer responsible for user attention of financial services (holder and alternate/s). The appointments –even when they are confirmations of officers currently in office– must have been formalized within 30 calendar days from the date of divulgation of Communication “A” 5388, in accordance with the procedure established in point 3.1.1.

6.8. Credit contracts entered into until 30.9.13. The obligated subjects may not apply the provisions established in the last paragraph of point 2.3.2.2. regarding charges and commissions for evaluation, granting and administration of financings.

6.9. As long as these provisions are not in force, those in force in this matter as of 19.7.13 are fully applicable.

6.10. The prior authorization regime referred to in point 2.5. shall be applicable as of 11.6.14, both with respect to new information to the Central Bank related to increases in commissions and/or charges and to those information to this Institution corresponding to increases that have not yet been communicated to the users of financial services until the aforementioned date. Increases in commissions of financial products and/or services considered “basic” with respect to those in force during the year 2013 -considered as a whole and as a difference of average annual values- higher than the level that this Institution determines shall not be authorized, regardless of the number of revisions made in the period.

6.11. The provisions of point 2.3.5.1. shall be applicable to non-compliances detected as of 1.1.16 and as long as they are not time-barred in accordance with the legislation applicable in each case.

6.12. Financial entities that have collected in any form from the user of financial services amounts for any of the concepts detailed in point 2.3.5.1., whether or not they had been paid or reimbursed, in accordance with the procedures provided in the aforementioned rules, must report such deviations to the Superintendence of Financial and Exchange Entities on a quarterly basis, starting from the quarter ending 31.3.16, through the informative regime to be established in due course.

6.13. A cumulative increase between 1.01.16 and 1.09.16 of up to 20 % in the amount of each of the commissions that the obligated subjects receive from the users of financial services shall be admitted, provided that the increases are notified 60 calendar days in advance counted from 21.03.16, and in these cases the minimum notice period of 30 calendar days to the Central Bank of the Argentine Republic provided in point 2.5 shall not be applicable.

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “PROTECTION OF USERS OF FINANCIAL SERVICES”

	TEXT ORDERED			RULE OF ORIGIN
Section	Point	Paragraph	Com.	Point	Paragraph
1.	1.1.		“A” 5388
	1.1.1.		“A” 5388
	1.1.2.		“A” 5388
	1.1.2.1.		“A” 2467		2°	S/Com. “A” 4378 and 5388.
	1.1.2.2.		“A” 5388			S/Com. “A” 6443.
	1.1.2.3.		“A” 4378			S/Com. “A” 5388.
	1.1.2.4.		“A” 5388
	1.2.	1°	“A” 90	único		S/Com. “A” 4378, 5388 and 6279.
		2°	“A” 2900	1.	2°	S/Com. “A” 5388, 6279 and 6462.
2.	2.1.		“A” 5388			S/Com. “A” 5460.
	2.2.		“A” 5388			S/Com. “A” 5460.
	2.2.1.		“A” 5388			S/Com. “A” 5460.
	2.2.2.		“A” 5388			S/Com. “A” 5460.
	2.2.3.	last	“A” 5388			S/Com. “A” 5460.
	2.2.3.1.		“A” 5388			S/Com. “A” 5460.
	2.2.3.2.		“A” 5388			S/Com. “A” 5460.
	2.2.3.3.	1°	“A” 5388			S/Com. “A” 5460.
		2°	“A” 5388			S/Com. “A” 5460.
	2.2.3.4.		“A” 5388			S/Com. “A” 5460.
	2.3.		“A” 5388			S/Com. “A” 5460.
	2.3.1.		“A” 5460			S/Com. “A” 5928, 6068, 6123, 6145, 6188 and “B” 11353.
	2.3.2.		“A” 5460			S/Com. “A” 5795, 5823, 5928 and 5990.
	2.3.3.		“A” 5460
	2.3.4.		“A” 5460			S/Com. “A” 5928, 6279 and “B” 11353.
	2.3.5.		“A” 5460			S/Com. “A” 5849, 5853, 6279 and 6419.
	2.3.6.		“A” 5460
	2.3.7.		“A” 5460
	2.3.8.		“A” 5460
	2.3.9.		“A” 5460
	2.3.10.		“A” 5460
	2.3.11.		“A” 5460			S/Com. “A” 5795, 5828 and 5928.
	2.3.12.		“A” 5928			S/Com. “A” 6123.
	2.3.13.		“A” 5928	2.		Includes interpretive clarification. S/Com. “B” 11353.
	2.4.	1°	“A” 5388			S/Com. “A” 5460.
	2.4.1.		“A” 5388			S/Com. “A” 5460.
	2.5.		“A” 5388			S/Com. “A” 5460, 5498, 5591, 5685, 5928 and 6279.
	2.6.		“A” 5460
3.	3.1.	1°	“A” 5388			S/Com. “A” 5460 and 6418.
	3.1.1.		“A” 5388			S/Com. “A” 5460.
	3.1.1.1.	1°	“A” 2467			S/Com. “A” 4378, 5388 and 5460.
		2°	“A” 2467			S/Com. “A” 4378, 5388, 5460 and 6279.
		1°	“A” 4378		2°	S/Com. “A” 4429, 5388 and 5460.
		2°	“A” 4378		2°	S/Com. “A” 5388 and 5460.
		3°	“A” 4378			S/Com. “A” 4429, 5388 and 5460.
	3.1.1.2.		“A” 2467			S/Com. “A” 4378, 5388 and 5460.

PROTECTION OF USERS OF FINANCIAL SERVICES

CENTRAL BANK
OF THE ARGENTINE REPUBLIC


ORDERED TEXT			SOURCE RULE			OBSERVATIONS
Section	Point	Paragraph	Com.	Point	Paragraph
	3.1.1.3.		"A" 5388			S/Com. "A" 5460.
	3.1.1.4.		"A" 5388			S/Com. "A" 5460.
	3.1.1.5.		"A" 5388			S/Com. "A" 5460.
	3.1.1.6.		"A" 6418	2.
	3.1.1.7.		"A" 4378		2°	S/Com. "A" 5388, 5460 and 6279.
	3.1.1.8.		"A" 4378		2°	S/Com. "A" 5388, 5460, 6279 and 6418.
	3.1.2.	1°	"A" 5388			S/Com. "A" 5460.
		2°	"A" 2467			S/Com. "A" 4378, 5388, 5460 and 6418.
		3°	"A" 5388			S/Com. "A" 5460.
		4°	"A" 4429		2°	S/Com. "A" 5388 and 5460.
	3.1.3.		"A" 5388			S/Com. "A" 5460 and 6279.
	3.1.4.		"A" 6279	4.
	3.1.5.		"A" 6279	4.
	3.1.6.		"A" 5388			S/Com. "A" 5460 and 6462.
	3.2.		"A" 5388			S/Com. "A" 5460.
	3.2.1.		"A" 4378			S/Com. "A" 5388, 5460, 6279 and 6418.
	3.2.2.		"A" 5388			S/Com. "A" 5460.
	3.2.2.1.		“A” 5388			S/Com. “A” 5460.
	3.2.2.2.		“A” 5388			S/Com. “A” 5460.
	3.2.3.		“A” 5388			S/Com. “A” 5460.
	3.2.3.1.		“A” 5388			S/Com. “A” 5460 and 6279.
	3.2.3.2.		“A” 5388			S/Com. “A” 5460.
	3.2.3.3.		“A” 5388			S/Com. “A” 5460.
	3.2.3.4.		“A” 5388			S/Com. “A” 5460 and 6418.
	3.2.3.5.		“A” 6418	2.
	3.2.3.6.		“A” 6279	3.
	3.2.3.7.		“A” 6279	3.
3.	3.2.3.8.		“A” 6279	3.
	4.1.		“A” 5388			S/Com. “A” 6279.
	4.2.		“A” 5388			S/Com. “A” 6279.
	4.2.1.		“A” 5388			S/Com. “A” 6199 and 6279.
	4.2.1.1.		“A” 5388			S/Com. “A” 6199.
	4.2.1.2.		“A” 5388			S/Com. “A” 6199.
	4.2.1.3.		“A” 5388			S/Com. “A” 6199.
	4.2.1.4.		“A” 5388			S/Com. “A” 6199 and 6279.
	4.2.1.5.		“A” 5388			S/Com. “A” 6199 and 6279.
	4.2.1.6.		“A” 5388			S/Com. “A” 6279.
	4.2.2.		"A" 5388			S/Com. "A" 6279.
	4.3.		"A" 5388
4.	4.4.		"A" 5388

PROTECTION OF USERS OF FINANCIAL SERVICES

PROTECTION OF USERS OF FINANCIAL SERVICES
CONSOLIDATED TEXT			SOURCE RULE			OBSERVATIONS
Section	Point	Paragraph	Comm.	Point	Paragraph
5.			"A" 4378		2°	S/Com. "A" 4429, 5388 and 6418.
6.	6.1.		"A" 5388			S/Com. "A" 5460.
	6.2.		"A" 5388			S/Com. "A" 5460.
	6.3.		"A" 5388			S/Com. "A" 5460.
	6.4.		"A" 5388			S/Com. "A" 5460.
	6.5.		"A" 5460
	6.6.		"A" 5388			S/Com. "A" 5460.
	6.7.		"A" 5388			S/Com. "A" 5460.
	6.8.		"A" 5514			S/Com. "A" 5551.
	6.9.		"A" 5388			S/Com. "A" 5460.
	6.10.	1°	"A" 5591	2.
		2°		3.
	6.11.		"A" 5849	7.
	6.12.		“A” 5849	8.
	6.13		“A” 5928	11.

B.C.R.A.
ORDERED TEXT OF THE RULES ON
“REGULATION OF THE BANK CURRENT ACCOUNT”

-Index-

Section 11. Procedure for the receipt of deposits for legally enforceable fines.

11.1. Opening of account.

11.2. Information on receipts.

11.3. Transfers of balances.

Section 12. General provisions.

12.1. Recommendations for the use of automated teller machines.

12.2. Issuance of checks and return of deposits.

12.3. Return of checks to drawers.

12.4. Discriminatory acts.

12.5. Manner of computing time limits.

12.6. Transfer service in pesos. Charges and/or commissions.

12.7. Special procedures for customer identification in matters of international tax cooperation.

12.8. Transactions at automated teller machines in the country not operated by financial institutions.

12.9. Deposit accounts for guarantees of futures and options transactions.

12.10. Opening of accounts remotely.

Correlation table.

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In addition, the applicable legend regarding deposit guarantee shall be stated, as provided in point 6. of the rules on “Application of the deposit guarantee insurance system” and, in the place determined by the entity, the tax identification code number (CUIT, CUIL or CDI) of the account holders, according to the depositary's records. It shall be mandatory to record the data of up to three of its holders; when they exceed that number, the total number shall also be indicated.

1.5.2.4. Send the account holder, when the deferred payment check modality is used, information containing at a minimum, in addition to the movement of funds already verified, a detail of the registered checks, maturity and amount, subject to the conditions stipulated in point 1.5.2.3.

1.5.2.5. Inform the current account holder of the balance recorded in the corresponding accounts at the entity's offices and/or at the places indicated by the holders, such communication being able to be made through electronic means.

1.5.2.6. Pay at sight –except in the cases referred to in point 1.5.2.8., second paragraph– the checks drawn on the forms delivered to the current account holder, in accordance with the legal and regulatory provisions in force at the date of issuance of the check, taking into account, in matters of presentation periods, those established in article 25 of the Check Law.

In the case of deferred payment checks, that period shall be computed from the payment date stated on the instrument.

1.5.2.7. Adopt the necessary procedures to make payment of checks, assuming the pertinent legal responsibilities in the case of documents incorrectly paid.

In the case of checks included in the truncation operation, observe –in that respect– the guidelines contained in the agreements formalized between the entities.

1.5.2.8. Identify the person presenting the check at the window, including when it is drawn to bearer, whose signature, clarification and domicile, and the type and number of identity document applicable in accordance with the provisions of point 1.3.1.9., shall be recorded on the back of the document.

Checks –ordinary or deferred payment– made out to bearer or in favor of a determined person shall not be paid in cash for amounts exceeding $ 50,000. This restriction shall not apply in the following cases:

i) Checks drawn in favor of the holders of the accounts on which they are drawn, exclusively when they are presented to the drawee entity by the holders themselves.

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ii) Instruments in favor of third parties intended for the payment of salaries and other habitual remuneration for amounts comprising the payroll in global form, for which the drawer must extend, on each occasion, a certification expressly stating the purpose of the drawing, which shall be kept on file at the entity.

1.5.2.9. Verify –both on checks and on transferable registered certificates– the regularity of the series of endorsements but not the authenticity of the endorsers' signatures and verify the signature of the presenter, which must be inserted as a receipt.

These obligations fall on the drawee entity when the check is presented for collection at that entity, while the entity at which the check is deposited –when different from the drawee– is responsible for controlling that the last signature extended as a receipt contains the specifications set forth in point 5.1.3., unless the truncation procedure is applicable, in which case the provisions of the respective agreements shall apply.

When the presentation is made through an agent or beneficiary of an ordinary assignment, the instrument by which the mandate was granted or the assignment made must also be verified, except when the collection is carried out by a financial institution not authorized to take current account deposits.

1.5.2.10. Modifications to the agreed conditions –including the amount of commissions and/or charges– must be made in accordance with the provisions of point 2.3.4. of the rules on “Protection of users of financial services”.

Funds improperly debited for commissions and/or charges must be refunded to the holders in accordance with the provisions of point 2.3.5. of the rules on “Protection of users of financial services”.

1.5.2.11. Inform the BCRA of check rejections for formal defects, rejections of registration of deferred payment checks, as well as those produced for insufficient provision of funds in the account or for not having authorization to overdraw and the fines paid by the responsible parties.

In cases where the fines have been paid and an erroneous notification is made to the BCRA, which determines the automatic disqualification of the client, the contracts must provide that the entity will compensate the client for the expenses arising from the resolution of such situation by crediting them to the client's account, it being estimated that this must not be less than one time the amount of the fines in question. Such payment does not exempt the entity from the civil liabilities that may correspond in its relationship with the client.

1.5.2.12. Use the procedures established in the respective operational guide to send to the BCRA, on the dates and in the manner indicated, the reports referred to in point 1.5.2.11.

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In said reports, the CUIT or CUIL or CDI, as applicable, must be mentioned.

The data provided, referring to each of the situations provided for in said point, may not record an age greater than the 10 banking business days prior to the due date for that submission.

1.5.2.13. Adopt the measures deemed necessary to ensure that the current account holder has received the requested checkbook.

1.5.2.14. Reverse debited transactions, according to express instructions of the account holder, linked to the automatic debit system for the payment of taxes, public or private utility bills, credit card statements, etc., that comply with the terms established in point 1.5.4.2., in accordance with clauses that must be included in the agreement of adhesion to the system.

In the agreements that financial entities enter into with their clients for adhesion to automatic debit systems, a clause must be included that provides for the possibility that the client orders the suspension of a debit until the business day prior –inclusive– to the due date and the alternative of reversing debits for the total of each transaction, upon an express instruction from the client, within 30 calendar days counted from the date of the debit. The refund will be made within the 72 business hours following the date on which the entity receives the client's instruction, provided that the company originating the debit and only in cases where the amount of the requested reversal exceeds $ 750, does not oppose the reversal because the billing difference has been made effective directly.

In the case of credit card settlements of open systems, in replacement of the aforementioned reversal procedure, entities must have mechanisms in place 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.

1.5.2.15. Notify the current account holder, when magnetic cards are delivered to be used in carrying out transactions with ATMs, of the recommendations and precautions that must be taken to ensure their correct use, as provided in point 12.1.

1.5.3. The minimum requirements of financial contracts (point 2.3.1.1. of the rules on “Protection of users of financial services”).

Entities may not charge fees or commissions for replacements of debit cards made in compliance with the minimum security requirements established in the rules on “Minimum requirements for management, implementation and control of risks related to information technology, information systems and associated resources for financial entities”.

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Users of financial services who are holders of the bank current account shall have the right to carry out transactions at the teller window, without restrictions on the type of transaction –subject to those that may exist for operational reasons– or minimum amount.

Commissions may not be applied to transactions carried out at the teller window by users of financial services who are natural persons, with the scope provided in point 2.3.2.2. of the rules on “Protection of users of financial services”.

1.5.4. The concepts that will be debited from the current account, provided there is express authorization from the client, for:

1.5.4.1. Transactions proper to the entity (loan payments, safe deposit box rentals, etc.).

1.5.4.2. Collection services on behalf of third parties, arranged directly with the bank or through said third parties (automatic or direct debits) for the payment of taxes, rates, contributions and dues, public or private utility bills, credit card statements, etc., when the client's knowledge is ensured with a minimum advance of 5 business days with respect to the date set for the debit that the current account holder has contracted.

In the event that the client formalizes their adhesion to the automatic debit service through the service provider company, tax collection agency, etc., in order to carry out the debits, the communication that the company or entity sends to the entity notifying the adhesion shall be sufficient, a record of which may remain in the possession of the company or entity.

The client may formalize their adhesion to the automatic debit system through the financial entity in which they maintain their account or through the service provider company, tax collection agency, etc., to the extent that, in the pertinent aspects, the requirements indicated above are observed. The same option shall apply to express the disaffiliation or cancellation of a service of this system.

1.5.4.3. Commissions freely agreed at the time of opening or subsequently, corresponding to the transactions provided for in points 1.5.4.1. and 1.5.4.2., stating amounts or percentages.

If the benefits are agreed upon after the opening of the account, it shall be recorded in a document signed together with the client, prior to its entry into force and which shall supplement the current account contract, regarding the concepts included and the occasions on which the debits will operate, in accordance with the provisions of point 2.3.4. of the rules on "Protection of users of financial services".

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REGULATION OF THE BANK CURRENT ACCOUNT B.C.R.A.
Section 1. Operation.

1.5.5. The list of debits that may not require prior and express authorization from the applicant, such as legally provided fines, taxes that levy the account movements or other concepts debited therein.

1.5.6. Detail of the causes and/or situations that may lead to the closure of the account, including those ordered by judicial decision or other legal reasons, as well as the requirements that each of the parties must observe on that occasion.

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REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 12. General provisions.

12.1. Recommendations for the use of automated teller machines.

12.1.1. Banks that provide magnetic cards to be used in carrying out operations linked to the current account with automated teller machines must alert and recommend to users the precautions they should take to ensure their correct use.

The notification of these recommendations must be made at the time of opening the account that involves the delivery of a card to be used in automated teller machines, without prejudice to the advisability of periodically making subsequent reminders.

12.1.2. The following are the recommendations and precautions that, at a minimum, must be communicated to users:

12.1.2.1. Request from the bank staff all the information they deem necessary about the use of automated teller machines at the time of first accessing the service or before any doubt that may arise subsequently.

12.1.2.2. Change the identification or access code or personal key or password ("password", "PIN") assigned by the entity, for one that the user selects, which must not be their personal address or date of birth or another number that can be easily obtained from documents kept in the same place as their card.

12.1.2.3. Do not disclose the personal key number or write it on the magnetic card provided or on a paper kept with it, since said code is the key to enter the system and therefore to your accounts.

12.1.2.4. Do not enter the personal key in the presence of outsiders, even if they pretend to help you, nor provide the magnetic card to third parties, since it is for personal use.

12.1.2.5. Keep the magnetic card in a safe place and periodically verify its existence.

12.1.2.6. Do not use automated teller machines when there are abnormal operation messages or situations.

12.1.2.7. When making a deposit operation, ensure to introduce the envelope containing the cash or checks together with the first receipt issued by the ATM during the process of that transaction, in the specific slot for that function, and withdraw the receipt that the machine delivers at the end of the operation, which will serve for a possible subsequent claim.

12.1.2.8. Do not forget to withdraw the magnetic card at the end of the operations.

12.1.2.9. If the ATM retains your card or does not issue the corresponding receipt, immediately communicate that situation to the bank with which you operate and to the bank administering the automated teller machine.

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Section 12. General provisions.

12.1.2.10. In case of loss or theft of your card, immediately report this situation to the bank that issued it.

12.1.2.11. In case of withdrawals when there are differences between the receipt issued by the ATM and the amount actually withdrawn, communicate that circumstance to the banks in which the operation was made and the system administrator, in order to solve the problem.

12.2. Issuance of checks and return of deposits.

Special accounts, by virtue of the powers conferred by article 1391 of the Civil and Commercial Code of the Nation, are subject to the following conditions, to which the interested parties are bound without right to any claim.

12.2.1. Accounts to reciprocal or indistinct order.

The entity will accept checks issued by any of the holders, even in cases of death or supervening incapacity of the others, provided that there is no contrary judicial order.

12.2.2. Accounts to joint or collective order.

The entity will only accept checks signed by all holders and, in case of death or incapacity of some of them, a judicial order will be required to dispose of the balance.

12.2.3. Accounts in the name of one or more persons and to the order of another.

12.2.3.1. The entities will accept, in all cases, checks issued by the person to whose order the account is, except as provided in subsection 12.2.3.2.

12.2.3.2. If the death or incapacity of the person to whose order the account is occurs, the balance of the current account will be delivered to its holder or to the person to whom the administration of their assets corresponds in accordance with the provisions of the Civil and Commercial Code of the Nation. If the death of the account holder occurs, the deposited funds will be at the disposal of those who are their successors.

12.3. Return of checks to the issuers.

Checks may be returned to the issuers under the conditions agreed upon by the banks with their clients, in accordance with the rules on "Conservation and reproduction of documents".

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Section 12. General provisions.

12.4. Discriminatory acts. Entities must adopt the necessary measures to prevent discriminatory acts from occurring with respect to their clientele, for which they must observe the provisions of the rules on “Protection of users of financial services”.

12.5. Manner of computing time limits. When the expiration of the terms established in these regulations occurs on a non-banking business day, it shall be moved to the next banking business day.

12.6. Transfer service in pesos. Charges and/or commissions. Financial entities must adjust their scheme for charging these concepts to the provisions set forth below.

12.6.1. Transfers ordered or received by clients that have the status of users of financial services under the terms of point 1.1.1. of the rules on “Protection of users of financial services” shall not be subject to charges and/or commissions.

For clients that do not have that status, transfers ordered or received by electronic means –e.g. automated teller machine, Internet banking (“home banking”) and self-service terminals– shall not be subject to charges and/or commissions up to the amount of $ 250,000 –daily accumulated–. This is without prejudice to additional services to facilitate the bulk loading of such transactions into the systems offered by financial entities to clients (and provided that they are not charged amounts related to the amounts transferred) and to the concepts that must be passed on to clients for taxes, withholdings, etc., according to the applicable legal rules.

No additional commission and/or charge shall apply on the part of the financial entity for any other concept –administrative, operational or of any other nature–, without prejudice to the fact that the commissions charged between entities and to clientele for geographic coverage may remain in force –at the values in force as of 23.9.10–, in those cases in which it is so provided.

12.6.2. Transfers from or to demand accounts for judicial use. Transfers of funds from or to these accounts must be without charges or commissions for the originator.

With respect to transfers to these accounts, the financial entity receiving the transfer must verify that the destination account of the funds corresponds to a demand account for judicial use. If such correspondence is not verified, it must proceed to return the transaction, in accordance with the provisions of the applicable regulations on that matter.

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REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 12. General provisions.

12.7. Special procedures for identifying clients in matters of international tax cooperation.

Based on the Standard of the Organisation for Economic Co-operation and Development (OECD) for Automatic Exchange of Information in Tax Matters and the provisions of the United States of America Foreign Account Tax Compliance Act (FATCA), financial entities must adopt the necessary measures to identify account holders covered by said standard and provisions.

For this purpose they shall proceed to:

12.7.1. Include, in the files of clients that are covered and are natural persons (also encompassing those that control non-financial entities of the country included), in addition to the data on nationality and place and date of birth, the information on the country of tax residence and the address and tax identification number with the pertinent supporting documentation.

In the case of legal persons and other covered clients, the respective information shall comprise the country of tax residence and the address and tax identification number in that country.

12.7.2. Comply with the confidentiality safeguards referred to in art. 39 of the Law on Financial Entities and art. 5, para. 2, subpara. e) of the Law on Personal Data Protection.

The information on covered clients must be submitted to the Federal Administration of Public Revenue, in accordance with the regime that Administration establishes.

The scopes and definitions referring to covered subjects, accounts and data to be supplied, as well as the due diligence procedures, must be understood in accordance with the terms of the document “Standard for Automatic Exchange of Financial Account Information-Common Reporting Standard” approved by the OECD.

12.8. Operations in automated teller machines in the country not operated by financial entities.

Financial entities that offer demand accounts must allow their clients to carry out operations through automated teller machines installed in the country and operated by non-financial companies.

Those devices must previously inform the client of the operations allowed and the price of their use –clarifying that this price will be the same regardless of the quantity and type of transactions to be carried out and stating the legend “This operation at a financial entity might have no cost”– and allow the client to withdraw from its use at no cost. The financial entity issuing the debit card may not charge its clients any type of additional commission to the one informed by these devices.

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REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 12. General provisions.

Financial entities may not have any type of participation or linkage –in the latter case, in accordance with the provisions of point 2.2. of the rules on “Credit risk splitting”– with non-financial companies that operate and/or administer these ATMs.

12.9. Deposit accounts for guarantees of futures and options transactions.

When these accounts are used by markets or capital clearing houses exclusively for the deposit of third-party guarantees, their name must include the addition “Third-party guarantee”.

12.10. Opening of accounts remotely.

When financial entities allow the remote opening of accounts through electronic and/or communication means, they must comply with the following requirements:

12.10.1. Ensure that such means allow them to fully comply with the regulations on prevention of money laundering and terrorist financing –especially regarding customer identification and knowledge–, as well as the remaining applicable provisions.

12.10.2. The procedures, technologies and controls used for the remote opening of said accounts must ensure compliance with the provisions on electronic channels and those related to the preservation, integrity, authenticity and confidentiality of the information and documents used, in order to protect them against alteration or destruction, as well as against improper access or use.

12.10.3. In the case of accounts in the name of legal persons, the following must be complied with:

i) Financial entities must adopt procedures, technologies and controls that allow verifying the identity of the natural person requesting the opening as legal representative or attorney-in-fact, the authenticity of the instruments accrediting the invoked representation and the identifying data of the legal person, which may include requesting information from public and/or private databases for comparison with the data received from the applicant.

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Section 12. General provisions.

12.10.4. When requested by another financial entity authorized to operate in the country in order to process a request for remote opening of a checking account under the conditions described above, financial entities may –in accordance with the provisions of article 39 subsection d) of Law 21.526– provide information regarding their customers that allows:

i) establishing their identity and personal data, in the case of natural persons;

ii) establishing the attributes of their legal personality and profile as well as the identity and personal data of the legal representatives or attorneys-in-fact, in the case of legal persons.

For such purposes, the entities must previously obtain the consent of the respective customer and comply with the requirements provided in Law 25.326 on Personal Data Protection (and amendments).

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REGULATION OF THE BANK CHECKING ACCOUNT

TEXT AS AMENDED			SOURCE RULE					OBSERVATIONS
Sec.	Point	Para.	Com.	Annex Chap. Sec.	Point	Para.
1.	1.5.1.2.		“A” 2514	Sole	1.2.1.2.			S/Com. “A” 3244.
	1.5.1.3.		“A” 2514	Sole	1.2.1.3.
	1.5.1.4.		“A” 2514	Sole	1.2.1.4.
	1.5.1.5.		“A” 2514	Sole	1.2.1.5.
	1.5.1.6.		“A” 2514	Sole	1.2.1.6.			S/Com. “A” 3075 and 3244.
	1.5.1.7.		“A” 2514	Sole	1.2.1.7.			S/Com. “A” 3075.
	1.5.1.8.		“A” 2514	Sole	1.1.1.3. and 1.2.1.8.		1st	S/Com. “A” 3831.
	1.5.2.		“A” 2514	Sole	1.2.2.
	1.5.2.1.		“A” 2514	Sole	1.2.2.1.
	1.5.2.2.		“A” 2514	Sole	1.2.2.2.			S/Com. “A” 3075.
	1.5.2.3.	1st	“A” 2514	Sole	1.2.2.3.		1st	S/Com. “A” 3075, 3323, 4971 (item 1.), 5000 and 5022.
		2nd	“A” 2621		2.			S/Com. “A” 3014 (item 3.7.1.6.).
		3rd	“A” 2514	Sole	1.2.2.3.		4th	S/Com. “A” 5161.
		4th	“A” 3075
		5th	“A” 2807		6.			S/Com. “A” 3244, 3323 and 6462.
	1.5.2.4.		“A” 2514	Sole	1.2.2.4.			S/Com. “A” 3075 and 3244.
	1.5.2.5.		“A” 2514	Sole	1.2.2.5.			S/Com. “A” 3075.
	1.5.2.6.		“A” 2514	Sole	1.2.2.6.		1st and 2nd	S/Com. “A” 3244.
	1.5.2.7.	1°	“A” 2514	Sole	1.2.2.7.		1°	S/Com. “A” 2779 and 3075.
		2°	“A” 2514	Sole	1.2.2.7.		2°	S/Com. “A” 2779.
	1.5.2.8.	1°	“A” 2514	Sole	1.2.2.8.			S/Com. “A” 3244.
		2°	“A” 2814		2.			S/Com. “A” 3831.
	1.5.2.9.	1°	“A” 2514	Sole	1.2.2.9.		1°
		2°	“A” 2514	Sole	1.2.2.9.		3°	S/Com. “A” 3075 and 3244.
		3°	“A” 2514	Sole	1.2.2.9.		2°
	1.5.2.10.	1°	“A” 2514	Sole	1.2.2.10.			S/Com. “A” 3075 and 5482.
		2°	“A” 2468		1.		5°	S/Com. “A” 5482.
	1.5.2.11.		“A” 2514	Sole	1.2.2.11.			S/Com. “A” 3075, 3244 and 4063 (item 1.).
	1.5.2.12.		“A” 2514	Sole	1.2.2.		2°, 3° and 4°	S/Com. “A” 2864 (item 3.) and 3244.
	1.5.2.13.		“A” 2514	Sole	1.2.2.14.
	1.5.2.14.	1° and 2°	“A” 2508	Sole			2°	S/Com. “A” 2621 (item 3.) and 3244.
		3°	“A” 2508	Sole			3°
	1.5.2.15.		“A” 2530					S/Com. “A” 3075 and 3244.
	1.5.3.		“A” 2468		1.		1°	S/Com. “A” 3075, 5461, 5482 and 5928.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

REGLAMENTACIÓN DE LA CUENTA CORRIENTE BANCARIA

TEXTO ORDENADO			NORMA DE ORIGEN					OBSERVACIONES
Secc.	Punto	Párr.	Com.	Anexo	Cap.	Secc.	Punto	Párr.
9.	9.3.		“A” 2514	sole			1.5.
	9.3.1.	1°	“A” 2514	sole			1.5.3.3.	1° and 2°	S/Com. “A” 3244.
		2°	“A” 2514	sole			1.5.2.	2° and 5°	S/Com. “A” 3244.
	9.3.2.		“A” 2514	sole			1.5.3.3.	3°	S/Com. “A” 3075 and 3244.
	9.4.		“A” 2514	único			1.7.
10.			“A” 3075
	10.1.	1°	“A” 2514	único			1.6.3.	3°	S/Com. “A” 3075.
		2°	“A” 2514	único			1.6.3.	4°	S/Com. “A” 3075, 3244 and 4063 (item 1.).
	10.2.		“A” 3075
	10.2.1. to 10.2.4.		“A” 2514	único			1.9.4.		Texts that replace model notice formulas. S/Com. “A” 3075, 3235, 3244, 3831 and 4063 (item 1.).
11.	11.1.		“A” 4063				4.
	11.2.		“A” 4063				4.
	11.3.		“A” 4063				4.
12.			“A” 3075
	12.1.		“A” 2530
	12.1.1.	1°	“A” 2530					1°	S/Com. “A” 3075.
		2°	“A” 2530					3° and 4°
	12.1.2.		“A” 2530					2°
	12.2.		“A” 1199	I			5.1.
	12.2.1.		“A” 1199	I			5.1.1.
	12.2.2.		“A” 1199	I			5.1.2.
	12.2.3.		“A” 1199	I			5.1.3.
	12.3.		“A” 2514	único			1.13.2.		S/Com. “A” 3075.
	12.4.		“B” 6572						S/Com. “A” 5388.
	12.5.		“A” 3235
	12.6.	1°	“A” 5212
	12.6.1.		“A” 5127				3.		S/Com. “B” 9961 and “A” 5164, 5212, 5473, 5718 and 5927.
	12.6.2.		“A” 5212						S/Com. “A” 5718.
	12.7.		“A” 5588
	12.7.1.		“A” 5588
	12.7.2.		“A” 5588
	12.8.		“A” 5928				10.		S/Com. “A” 6236.
	12.9.		“B” 11269
	12.10.		“A” 6273

B.C.R.A. NATIONAL PAYMENT SYSTEM. TRANSFERS

Section 2. Immediate funds transfers.

2.1. Introduction.

2.2. Definition and characteristics of the system.

2.2.1. Objective.

2.2.2. Characteristics.

2.3. Responsibilities of the participants.

2.3.1. Entities.

2.3.2. Providers of the immediate funds transfer clearing service.

2.4. Controls to be performed.

2.4.1. Providers of the immediate funds transfer clearing service.

2.4.2. Originating and receiving entities.

Correlation table

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “NATIONAL PAYMENT SYSTEM. TRANSFERS”

	ORDERED TEXT			SOURCE RULE
Sec.	Point	Par.	Comm.	Annex or Chapter	Pt.	Par.	OBSERVATIONS
	1.1.		“A” 2559	Transfers of clients or third parties			S/Com. “A” 3014 and 5113.
	1.2.1.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.2.2.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.2.3.		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	1.2.4.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.3.1.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.3.2.		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	1.3.3.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.3.4.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.3.5.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.3.6.		“A” 2559	“			S/Com. “A” 3014, 3101, 4229, 5113 and “B” 11318.
	1.4.1.		“B” 11318	“
	1.4.2.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.4.3.		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	1.4.4		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	1.5.1.		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	1.5.2.		“A” 2559	“			S/Com. “A” 3014 and 5113
	1.6.1.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.6.2.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.7.1.		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	1.7.2.		“A” 2559	“			S/Com. “A” 3014, 4229, 5113 and “B” 11318.
	1.7.3.		“A” 2559	“			S/Com. “A” 3014, 4229, 5113, 6242 and “B” 11318.
	1.7.4.		“A” 2559	“			S/Com. “A” 3014, 4229, 5113 and “B” 11318.
	1.7.5.		“A” 2559	“			S/Com. “A” 3014, 4229, 5113 and “B” 11318.
	1.7.6.		“A” 2559	“			S/Com. “A” 3014 and 5113.
	1.7.7.		“A” 2559	“			S/Com. “A” 3014 and 5113.
1.	1.7.8.		“A” 2559	“			S/Com. “A” 3014, 5113 and “B” 11318.
	2.1.		“A” 5195	“			S/Com. “A” 5780.
	2.2.		“A” 5195	“			S/Com. “A” 5230, 5302, 5780, 5927, 5990, 6235 and 6242.
	2.3.		“A” 5195	“			S/Com. “A” 5302.
2.	2.4.		“A” 5195	“			S/Com. “A” 5302.

B.C.R.A.
TEXT ORDERED OF THE RULES ON
“INTEREST RATES IN CREDIT OPERATIONS”

-Index-

Section 1. General aspects.

1.1. Basic criterion.

1.2. Forms of agreement.

1.3. Basis of settlement.

1.4. Modalities of application.

1.5. Fixed divisor.

1.6. Penalty interest.

1.7. Commissions or other charges additional to interest.

Section 2. Financing linked to credit cards.

2.1. Compensatory interest.

2.2. Penalty interest.

2.3. Financing granted to refinance outstanding balances of credit cards.

2.4. Advertising.

2.5. Reimbursement of interest collected in excess.

2.6. Other provisions.

Section 3. Expression of rates.

3.1. Objective.

3.2. Presentation in documents.

3.3. Calculation of the effective annual interest rate.

3.4. Total financial cost.

Section 4. Advertising.

4.1. In graphic media or in other media different from those provided in point 4.2.

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-Index-

4.2. Advertising by radio, television or telephone media.

4.3. Advertising of installments.

4.4. Use of acronyms.

4.5. Responsibility of the entities.

Section 5. Statistical series linked to the interest rate.

5.1. General criteria.

5.2. Savings account interest rate series.

5.3. Interest rate series of credits included in Law 23.370.

5.4. Interest rate series of credits whose cost is linked to that established by the use of the Consolidated Loan (Sublimit General Clientele) and for Remaining Operations.

5.5. Savings account and fixed-term interest rate series and for use of the justice.

5.6. Use of the series and capitalization of interest.

Section 6. Transitional provisions.

Correlation table.

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INTEREST RATES IN CREDIT OPERATIONS B.C.R.A.
Section 4. Advertising.

4.1. In graphic media or in other media different from those provided in point 4.2.

The advertising offer, through any mass or individual media (newspapers, magazines, billboards on public roads or on construction sites, Internet, brochures, correspondence, etc.), or in other places other than customer service locations, in which specific credits are promoted –such as mortgage loans for housing, vehicle loans, personal loans or through credit cards–, mentioning the number of installments and/or their amount and/or the interest rate, will determine that entities must display in a legible and prominent manner the following information:

4.1.1. Nominal annual interest rate.

4.1.2. Effective annual interest rate.

4.1.3. Total financial cost.

4.1.4. Fixed or variable nature of the interest rate.

The rates must be displayed as a percentage with two decimals, distinguishing those corresponding to operations in pesos from those in foreign currency.

The advertising of the total financial cost must be placed in a typography in a prominent color, of identical font and at least five times larger in size –preserving all proportions of stroke thickness, height and width– than that used to inform the level of the nominal annual rate.

4.2. Advertising by radio, television or telephone media.

In radio or television advertising of the operations mentioned in point 4.1. and only when reference is made to installment amounts and/or the level and/or type of interest rate, the total financial cost must be additionally informed.

The television advertising of the total financial cost must be placed in a typography in a prominent color, of identical font and at least five times larger in size –preserving all proportions of stroke thickness, height and width– than that used to inform the level of the nominal annual rate.

4.3. Advertising of installments.

In advertising –whatever the medium– of installment values for specific cases (such as financing of a certain housing unit or vehicle or personal loan), the amount displayed must result from the calculation that includes all concepts that will be borne by the borrowers (amortization of principal, interest, premiums for insurance required in the contract, account maintenance expenses associated with the loan, value added tax (VAT) and other concepts included in the first installment –whether or not they include

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INTEREST RATES IN CREDIT OPERATIONS B.C.R.A.
Section 4. Advertising.

the total financial cost, except taxes other than VAT, and the rates and contributions that may tax the operations according to the jurisdiction in question, which will not be considered–), in addition to observing the requirements established in points 4.1. and 4.2., as applicable.

It will be clarified whether the amounts are fixed or variable based on changes in the interest rate.

4.4. Use of acronyms.

Acronyms or abbreviations may only be used to identify the nominal and effective annual interest rates, the total financial cost or other concepts after having cited them with the respective clarification in full.

4.5. Responsibility of entities.

Financial entities and non-financial companies issuing credit and/or purchase cards will be responsible for ensuring compliance with the requirements established regarding advertising of interest rates and total financial cost in cases where construction, industrial, commercial companies, real estate agents, etc., advertise the sale of real estate or other goods or provision of services in notices that mention their possible financing through an entity covered by the Financial Entities Law or the Credit Cards Law, to the extent that the number of installments and/or their amount and/or interest rates are mentioned.

The total financial cost must be identified in a legible manner, in a typography in a prominent color, of identical font and at least five times larger in size –preserving all proportions of stroke thickness, height and width– than that used to inform the level of the advertised nominal annual rate.

If financing from different entities is advertised in the same notice, the total financial cost must be informed next to the name of each of them.

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INTEREST RATES IN CREDIT OPERATIONS

CENTRAL BANK OF THE ARGENTINE REPUBLIC

TEXT ORDERED	SOURCE STANDARD	OBSERVATIONS
Sec.	Point	Para.	Com.	Annex	Chap.	Sec.	Point	Para.
3.	3.4.		“A” 49	Sole	II				S/Com. “A” 5592 (pt. 1.) and 6173.
	3.4.1.		"A" 49	Sole	II		2.1.	1°	S/Com. "A" 2689 (pt. 2), 3052, 5482, 5592 (pt. 1) and 6173.
	3.4.2.1.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2).
	3.4.2.2.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2).
	3.4.2.3.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2) and 5592 (pt. 1).
	3.4.2.4.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2).
	3.4.2.5.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2) and 5592 (pt. 1).
	3.4.2.6.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2) and 5592 (pt. 1).
	3.4.2.7.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2).
	3.4.3.1. to 3.4.3.5.		"A" 49	Sole	II		2.3.		S/Com. "A" 2689 (pt. 2).
	3.4.	Last	"A" 5592				2.
4.	4.1.		"A" 49	Sole	II		2.2.		S/Com. "A" 2689, 3052, 4621 and 5684.
		Last	"A" 4621	Sole					S/Com. "A" 5853, 5887, 5905 and 6191.
	4.1.1. to 4.1.3.		"A" 49	Sole	II		2.2.2.	1st	S/Com. "A" 2689 (pt. 2.), 4621 and 5853.
	4.1.4.		"A" 49	Sole	II		2.2.3.		S/Com. "A" 2689 (pt. 2.) and 4621.
	4.2.		"A" 49	Sole	II		2.2.	4th	S/Com. "A" 2689 (pt. 2.), 4621, 5684, 5853, 5887, 5905 and 6191.
	4.3.	1st	"A" 49	Sole	II		2.2.2.	2nd	S/Com. "A" 2689 (pt. 2.), 3052 and 4621.
		2nd	"A" 49	Sole	II		2.2.2.	3rd	S/Com. "A" 2689 (pt. 2.), 3052 and 4621.
		Last	"A" 49	Sole	II		2.2.3.		S/Com. "A" 2689 (pt. 2.), 3052 and 4621.
	4.4.		"A" 49	Sole	II		2.2.2.	5th	S/Com. "A" 2689 (pt. 2.) and 4621.
	4.5.		"A" 49	Sole	II		2.2.4.		S/Com. "A" 4621, 5887, 5905 and 6191.
5.	5.1.1.	1°	"A" 1827				4.	1°	S/Com. "A" 3052.
		2°	"A" 2667
		3°	"A" 1828					Penultimate

Communication "A" 6419. Updates.

ANNEX

4.1. Subjects covered.

4.2. Authorized means of dissemination

4.3. Models and location of the signage

4.4. Mandatory dissemination information.

4.4.1. Financial institutions.

4.4.2.Exchange operators.

4.4.3.Non-financial companies issuing credit and/or purchase cards.

4.5. Models of signage with relevant information for financial services users.

4.5.3.

4.5.4.

5.1. Subjects covered.

5.2. Models and location of the information.

5.3. Mandatory dissemination information.

5.3.1.Financial institutions

ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “COMMUNICATION BY ELECTRONIC MEANS FOR ENVIRONMENTAL CARE”

Section 4. General provisions.

Section 5. Transitional provisions.

1.13.2. By decision of the entity.

1.13.2.1. General procedure.

1.13.2.2. Exception.

1.14. Deposit guarantee.

1.15. Recommendations for the use of ATMs.

2.4. Debit card.

2.5. Account statement.

3.1.9. Other provisions.

3.4.12. Deposit guarantee.

3.4.13. Recommendations for the use of ATMs.

3.4.14. Proof of delivery of information to the customer.

3.5. Savings account for the payment of social assistance plans or programs.

3.5.1. Opening.

3.5.2. Identification of holders.

3.5.3. Deposits.

3.5.4. Transactions without charge.

4.1. Identification.

4.1.1. Natural persons.

4.1.2. Legal persons.

4.2. Tax status.

4.3. Recommendations for the use of automated teller machines.

4.4. Interest rates.

4.4.1. Forms of agreement.

4.4.2. Basis and methods of settlement.

4.4.7. Advertising.

4.5. Return of deposits.

4.5.1. Accounts to reciprocal or indistinct order.

4.5.2. Accounts to joint or collective order.

4.5.3. Accounts in the name of one or more persons and to the order of another.

4.6. Frozen balances.

4.6.1. Transfer.

4.6.2. Notice to holders.

4.7. Discriminatory acts.

4.8. Closing of non-operational accounts.

4.9. Procedures manual.

4.10. Transfer service. Charges and/or commissions.

4.10.2. Transfers destined for demand accounts for judicial use.

4.11. Over-the-counter operations.

4.12. Denomination of demand deposit accounts.

4.13. Special customer identification procedures in matters of international tax cooperation.

4.14. Operations at automatic teller machines in the country not operated by financial entities.

4.15. Deposit accounts for guarantees of futures and options operations.

4.16. Opening of accounts in non-face-to-face form.

Section 3. General provisions.

Section 4. Special provisions related to the inflow of funds from abroad - Decree 616/05.

3.4. Recommendations for the use of automated teller machines.

3.5. Interest rates.

3.5.1. Forms of agreement.

3.5.2. Basis and methods of settlement.

3.5.3. Fixed divisor.

3.5.4. Expression.

3.5.5. Disclosure in documents.

3.5.6. Calculation of the effective annual interest rate.

3.5.7. Advertising.

3.6. Return of deposits.

3.10. Deposits in the name of minors from funds received free of charge.

1.6.2. Advertising and publicity.

6. Instrumentation.

Index

Section 8. Cancelatory checks.

8.9. Collection of CHC with opposition.