Communication A 6556: Minimum Cash Requirement Adjustments

2018 - YEAR OF THE CENTENARY OF THE UNIVERSITY REFORM

COMMUNICATION “A” 6556
30/08/2018

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 952

Minimum cash. Adjustments.

---

We address you to inform you that this Institution adopted the resolution that, in its pertinent part, provides:

“- Increase, with effect from 1.9.18, for financial institutions included in Group “A” referred to in Section 4. of the rules on “Authorities of financial institutions”, by 5 percentage points the minimum cash requirement rates in pesos provided for by points 1.3.1., 1.3.2.1., 1.3.3.1., 1.3.4.1. and 1.3.5., subparagraphs i) and ii) of point 1.3.7.1., subparagraphs i) and ii) of subsection a) of point 1.3.9. and points 1.3.11.1. and 1.3.13. of the rules on “Minimum cash”.

This increase in the minimum cash requirement may not be integrated with National Government bonds in pesos at a fixed rate maturing in 2020. However, it may be integrated with both pesos and bank liquidity bills (Leliq) and/or BCRA notes (Nobac), valued at market prices.”

Likewise, we inform you that we will subsequently send you the pages that, in replacement of those previously provided, should be incorporated into the referenced rules.

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Darío C. Stefanelli
Principal Manager of Issuance and Regulatory Applications

Agustín Torcassi
General Deputy Manager of Standards