2020 - YEAR OF GENERAL MANUEL BELGRANO

COMMUNICATION “A” 6943
24/03/2020

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1 - 1005

Communication “A” 6937. Adjustments.

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

“- Replace the first paragraph of point 2. of Communication “A” 6937 with the following:

“2. Establish, with effect from 20.3.2020, a reduction in the average minimum cash requirement in pesos by an amount equivalent to 40 % of the sum of the financing in pesos granted at a nominal annual interest rate of up to 24 % for the following purposes:

− MSMEs –in accordance with the definition contained in the rules on “Determination of the condition of micro, small or medium-sized enterprise”–, at least 50 % of the amount of such financing must be allocated to working capital lines, such as salary payments and coverage of deferred checks;

− human health service providers, authorized by the competent body of the corresponding jurisdiction, not included above, insofar as they provide inpatient services within the framework of the Health Emergency declared by Decree 260/2020 and it is allocated to the purchase of medical supplies and equipment.”

On the other hand, it is clarified that the non-financial credit providers referred to in point 2. of the aforementioned Communication “A” 6937 must be registered in the corresponding registries authorized by the Superintendency of Financial and Exchange Institutions (SEFyC).

We greet you attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Matías A. Gutiérrez Girault
Issuance Manager of Rules

Darío C. Stefanelli
Principal Manager of Issuance and
Regulatory Applications