Communication A 7736: Operational Guidelines for Electronic Clearing Chambers under Communication A 7718

1983/2023 - 40 YEARS OF DEMOCRACY
COMMUNICATION “A” 7736 03/04/2023
TO FINANCIAL ENTITIES,
TO ELECTRONIC CLEARING CHAMBERS:
Ref.: Circular
REMON 1-1087:
Central de Registro y Liquidación de Instrumentos de Deuda Pública, Regulación Monetaria y Fideicomisos Financieros (CRYL). Operatoria Comunicación “A” 7718 ___________________________________________________________________________ We address you to inform you that electronic clearing chambers, for the purpose of operating under the terms provided in Communication “A” 7718, must follow the following guidelines:

1. Request from the Central de Registro y Liquidación de Instrumentos de Deuda Pública, Regulación Monetaria y Fideicomisos Financieros (CRyL) the opening of registration accounts for the constitution of guarantees, as follows:

1.1. For the purpose of correct and clear identification, the scheme determined for registration accounts will be: Chamber – Entity – Portfolio.

1.2. They must send a letter containing the following:
a) It must be on letterhead. b) It must be addressed to the Main Management of Control and Settlement of Operations. c) The reference must be: “Ref: Registration Account Request Com. “A” 7718”. d) It must contain the number assigned to each financial entity upon which it is requested, its name, the associated product, and the number assigned to the current account in pesos by the Current Accounts Management. e) It must contain acceptance of the provisions established in the regulations on “Central de Registro y Liquidación de Instrumentos de Deuda Pública, Regulación Monetaria y Fideicomisos Financieros (CRyL)”. f) It must be signed by two individuals who are in the signature registry of the Current Accounts Management of the BCRA, according to the signature usage mode established by each entity. g) It must contain the contact details of at least two contacts within the requesting entity. The letter must be presented at the BCRA intake desk. Additionally, it may be submitted in advance by email, as a scanned copy, to the address administracion.cryl@bcra.gob.ar.

2. An operational circuit is established by which electronic clearing chambers may operate the requested registration accounts, according to the guidelines contained in the Annex.

3. Taking into account that the instrument used is the BCRA Liquidity Notes (LELIQ), this Institution will inform via a Communication “C” of the eligible species, where the term and maturity will be established.

We salute you attentively.
BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Martín S. Candido Luis D. Briones Rouco
Manager of Securities and Foreign Exchange Operations A/C Main Manager of Control and Settlement of Operations

ANNEX

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1. Authorized hours for the execution of guarantees
   Operations may be carried out from 10:00 until the close of the MEP system.
   The execution of guarantees will be carried out through an application with exclusive access for electronic clearing chambers, and its settlement will be immediate through the CRyL. The proceeds will be credited to the account of the corresponding clearing chamber.

2. Authorized hours for the constitution of guarantees by financial entities.
   From 09:00 to 19:00.
   Financial entities may constitute guarantees on the registration accounts assigned in the CRyL, in accordance with the procedure established in Communication “B” 11858 on electronic FT/FTC transfers, clarifying that the portfolio assigned for guarantees constituted under the present regulation is No. 42. Any operation entered after the established time will be rejected.

3. Hours for the return of excess guarantees
   From 09:00 to 19:00.
   Electronic clearing chambers may return guarantees to the registration accounts of financial entities in the CRyL in accordance with the procedure established in Communication “B” 11858 on electronic FT/FTC transfers. Any operation entered after the established time will be rejected.

4. Maturity of LELIQ as guarantees
   The maturity of the notes will operate at 09:00, and the proceeds will be credited to the account of the corresponding clearing chamber.
   No compensation of values will be effected at maturity.

B.C.R.A. OPERATIONAL CIRCUIT
Annex to
Com. “A”
7736